Cisco (CSCO) Stock Drops on Disappointing Revenue Outlook Despite Earnings Beat

TLDR Cisco beat Q2 estimates with $1.04 EPS and $15.3B revenue but shares dropped 5% after-hours Full-year revenue guidance of $61.2-$61.7B missed Street expectations by over $2B Networking revenue surged 21% to $8.29B on AI infrastructure demand Gross margin of 67.5% fell short as memory chip prices squeezed profitability Company launched Silicon One G300 AI [...]

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