Reported 10 days ago
Cisco Systems reported better-than-expected quarterly results and a positive outlook for the near term, but its conservative annual sales forecast disappointed investors, causing a drop in stock prices. The company anticipates fiscal 2025 sales between $55.3 billion and $56.3 billion, which is below analyst expectations. While Cisco sees a recovery in corporate spending and increased orders, concerns linger about the slow return of federal government projects, its largest client. The company's shift towards networking services and software continues but is impacted by hardware sales which still dominate revenue.
Source: YAHOO