NEW YORK (TheStreet) -- Cisco (CSCO) 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.
>To follow the writer on Twitter, go to http://twitter.com/TheStreet_tech. >To submit a news tip, send an email to: firstname.lastname@example.org.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV