Cisco Keeps Guidance Unchanged

Cisco(CSCO Quote) today reaffirmed its annual revenue growth targets of 50% to 60%, but the company's shares rebounded only slightly from a 52-week low, as the guidance remained essentially unchanged.

Shares of Cisco were recently down 5%, or $2.44, to $46 in Nasdaq trading, off a low for the day of $45. The 52-week closing low is $45.19.

Analysts expect Cisco to earn 19 cents a share for the second quarter and 79 cents a share for the year, according to First Call/Thomson Financial. Wall Street is also looking for second-quarter revenue of $7.25 billion and revenue of $29.55 billion for the year. The company, which makes networking products such as routers and hubs, said it was making no change to its expectations of strong sequential and year-over-year revenue growth.

Cisco also continued to back its prior guidance of sequential quarterly revenue growth in the high single digits to the low double digits.