business π Cisco stock dips despite strong earnings beat
Cisco's shares fell during extended trading on Wednesday even though the company reported better-than-expected earnings and revenue forecasts. The firm, based in Las Vegas, posted adjusted earnings per share of $1.22 against an expectation of $1.17. For the quarter, revenue reached $17.25 billion, surpassing the projected $16.82 billion. This positive performance comes as Wall Street had been bullish due to AI boom expectations. Cisco projects this quarter's revenue between $18 billion and $18.2 billion.