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<US Co. Results>Cisco Systems Cuts Full-yr Rev., Earnings Forecasts; Shr Price Slumps 13% in After-hour Trading
Cisco Systems (CSCO.US) announced the results of the third fiscal quarter ended 30 April 2022. The adjusted EPS of the period increased by 5% YoY to USD0.87, ahead of the forecast of USD0.86. The revenue amounted to USD12.8 billion, flattish YoY but below the forecast of USD13.87 billion.
The company forecast a revenue growth of 2-3% for this fiscal year, lower than the previous estimated range of 5.5-6.5%. The adjusted EPS for the year was predicted to be USD3.29-3.37, compared to the previous estimate of USD3.41-3.46.
Following the result announcement, the share price of the company slid 12.8% in the after-hour trading session, to USD42.15.
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