Why Cisco’s Earnings Are Causing Networking Stocks Juniper and Broadcom to Sink
Shares of Cisco Systems were dramatically lower Thursday after the networking equipment maker provided a weak sales projection for its present quarter. The caution sent out stocks of other networking business toppling.
Cisco (ticker: CSCO) stated it anticipates financial fourth-quarter income to fall in between 1% and 5.5% from a year previously. Wall Street had actually been forecasting a boost of almost 6%. For the , Cisco stated it anticipates profits to increase in between 2% and 3%, below a previous projection of 5.5% to 6.5%.
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