Topic: How To Invest

Wall Street Stock Forecaster Hotline – Friday, May 19, 2017

Article Excerpt

CISCO SYSTEMS INC., $31.21, Nasdaq symbol CSCO, is a leading maker of hardware and software for linking and managing computer networks. The company reported better-than-expected revenue and earnings for its latest quarter. However, a weaker-than-expected outlook caused the stock to fall 7%. In its fiscal 2017 third quarter, ended April 29, 2017, Cisco’s earnings rose 5.1%, to $3.03 billion from $2.88 billion a year earlier. During those three months, the company spent $500 million on share repurchases; as a result, earnings per share moved up 5.3%, to $0.60 from $0.57. The figures exclude costs related to Cisco’s restructuring plan and the integration of recent acquisitions. On that basis, the latest earnings beat the consensus estimate of $0.58 a share. Revenue in the quarter fell 0.5%, to $11.94 billion from $12.00 billion. That’s partly because the latest quarter was 13 weeks compared to 14 weeks a year-earlier quarter. Even so, that, too, beat its consensus forecast of $11.89 billion. Revenue continues to suffer due to slowing…