Cisco Stock Crashes On Weak Guidance Amid China Covid Lockdown Pehal News


Source: pehalnews.in pehalnews.in

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Cisco Systems ( CSCO ) on Wednesday reported fiscal third-quarter earnings that edged by estimates whereas income missed Wall Street targets. CSCO inventory plunged as steering got here in nicely beneath expectations as China’s Covid lockdown worsened provide chain points. X The tech big reported outcomes after the market shut. CSCO inventory plunged 12.6% to 42.47 in prolonged buying and selling on the stock market today . For the interval ended April 30, Cisco earnings rose 5% to 87 cents a share from a yr earlier, the corporate stated. Revenue got here in flat at $12.8 billion, together with acquisitions....