SAN JOSE, Calif. (
fell a little short of saving tech today.
Cisco shares were tumbling 5% in afterhours trading, following its fourth-quarter earnings report. The company posted a better-than-expected profit but it just missed on revenues, coming in at 43 cents a share on revenue of $10.84 billion. Analysts were expecting $10.88 billion.
The networking giant is often seen as a barometer for the tech sector, thanks to its wide reaches into corporate IT buying. Given the state of today's market -- the Nasdaq is down 65 points, its lowest since May's flash crash when the index dropped 82 points -- investors were hoping a good Cisco beat could provide a big boost for all stocks.
Analysts expected the tech giant to report 42 cents in adjusted earnings. For the year-earlier period, the company posted adjusted earnings of 31 cents a share on revenue of $8.5 billion.
as we live-blog the company's earnings call, which will feature CEO John Chambers and his usual meaningful -- though historically cautious -- outlook.
As always, please feel free to comment and ask us questions.
-- Blog written by Scott Moritz and James Rogers in New York.