Investing.com - Cisco (NASDAQ:CSCO) reported on Wednesday third quarter earnings that beat analysts' forecasts and revenue that fell short of expectations.
Cisco announced earnings per share of $0.87 on revenue of $12.84B. Analysts polled by Investing.com anticipated EPS of $0.8627 on revenue of $13.34B.
Cisco shares are down 23% from the beginning of the year and are trading at $41.85 , down-from-52-week-high.They are outperforming the Nasdaq 100 which is down 26.91% from the start of the year.
Cisco shares lost 13.46% in after-hours trade the report.
Cisco follows other major Information Technology sector earnings this month
Cisco's report follows an earnings beat by Apple on April 28, who reported EPS of $1.52 on revenue of $97.28B, compared to forecasts EPS of $1.42 on revenue of $94.03B.
Microsoft had beat expectations on April 26 with third quarter EPS of $2.22 on revenue of $49.36B, compared to forecast for EPS of $2.19 on revenue of $49.02B.
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