Investing.com - Cisco (NASDAQ:CSCO) reported on Wednesday first quarter earnings that beat analysts' forecasts and revenue that fell short of expectations.
Cisco announced earnings per share of $0.82 on revenue of $12.9B. Analysts polled by Investing.com anticipated EPS of $0.8046 on revenue of $12.98B.
Cisco shares are up 26% from the beginning of the year and are trading at $52.54 , down-from-52-week-high.They are under-performing the Nasdaq 100 which is up 26.53% from the start of the year.
Cisco shares lost 7.52% in after-hours trade following the report.
Cisco follows other major Information Technology sector earnings this month
Cisco's report follows an earnings beat by Microsoft on Tuesday, October 26, 2021, who reported EPS of $2.27 on revenue of $45.32B, compared to forecasts EPS of $2.08 on revenue of $44B.
Apple had matched expectations on Thursday, October 28, 2021 with fourth quarter EPS of $1.24 on revenue of $83.36B, compared to forecast for EPS of $1.24 on revenue of $85.05B.
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