Skip to main content

Shares of Cisco (CSCO) - Get Cisco Systems Inc. Report  fell after the company exceeded revenue and earnings estimates, but worse-than-expected earnings per share guidance. 

The stock fell 4.44% to $46.31 a share in postmarket trading, after having risen 0.19% in regular hours. 

Earnings per share for Cisco's fiscal year 2020 first quarter came in at an adjusted 84 cents, beating Wall Street estimates of 81 cents and rising 12% year-over-year. Revenue was $13.2 billion, beating analysts expectations of $13.078 billion and rising 2%. Infrastructure platforms revenue, one of the company's largest segments, was $7.538 billion, missing estimates of $7.608 billion and falling 1%. 

But the networking giant said it expects adjusted EPS for the current quarter of between 75 cents and 77 cents, below analyst estimates of 79 cents. The company also guided for a second quarter revenue decline of between 3% and 5%, versus analyst expectations for 2.8% revenue growth.

Scroll to Continue

TheStreet Recommends

"We delivered a solid quarter against a challenging macro environment," said Chairman and CEO Chuck Robbins in a press release.

The stock is up 12.8% year-to-date. 

Cisco is a holding in Jim Cramer's Action Alerts PLUS member club. Want to be alerted before Jim Cramer buys or sells CSCO? Learn more now.