Why Cisco Systems Stock Sank on Thursday
And yet, the quarterly report released late on Wednesday, when the market’s pulse had begun to slow, unveiled a company still clinging to the wind in its sails-though perhaps not with the fierce vigor investors had hoped. Cisco’s fiscal fourth-quarter results painted a picture of modest prosperity: revenue surged by 8% year-over-year to $14.67 billion. A sliver above the consensus of $14.62 billion, but certainly no fireworks. It was, dare we say, a beat-but a soft one, as though the company were quietly clapping for itself.