Cisco stock falls 12%, on pace for worst day in over a year
Publishing timestamp: 2023-11-16 12:03:16
Summary
Cisco beat revenue and earnings expectations but gave light revenue guidance for the next quarter due to a slowdown in orders as customers deployed previously purchased Cisco products. The company's shares fell 12% following the earnings report. Analysts noted the decline in product orders and attributed it to inventory digestion and a return to a true revenue environment.
Sentiment: NEGATIVE
Keywords: breaking news: technology, earnings, goldman sachs group inc, cisco systems inc, business news, goldman sachs bdc inc, technology,
Source: https://www.cnbc.com/2023/11/16/cisco-stock-falls-12percent-on-guidance.html