NEW YORK ( TheStreet) -- Cisco (CSCO - Get Report) beat fiscal first-quarter earnings estimates after the bell on Wednesday, reporting EPS of 42 cents a share from 36 cents a share last year, above analysts' estimates of 40 cents.
First-quarter revenue soared 19% from last year to $10.75 billion, slightly edging analysts' expectations of $10.74 billion.
Still, Cisco shares dropped more than 4% in after-hours trading, mirroring what happened last quarter, when on top of a good beat, CEO John Chambers gave a less-than-enthusiastic take on tech spending, noting a decrease in customer orders in late June and early July. As a result, Cisco's stock dipped 0.82% over the past three months.Tune into TheStreet's live discussion of Cisco's earnings day -- we're on the conference call to relay the news from company executives. As always, feel free to ask us questions and comment on anything Cisco. -- Blog written by James Rogers and Scott Moritz in New York.
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