Cisco Systems (CSCO) saw its stock fall more than 12% following a disappointing profit outlook that overshadowed a 10% revenue increase. The company attributed its gloomy forecast to rising memory-chip prices affecting profitability, while an expected Q3 gross margin of 65.5% to 66.5% fell short of the 68.2% consensus. As a result, Cisco emerged as a top decliner in the S&P 500, dampening broader tech stock performance.
“Cisco · led · earnings movers · true”
“Cisco Systems · dropped · about 12% · as its forecast disappointed”
“Cisco · stock fell by · 5% · after disappointing guidance”
“Cisco Systems · fell · percentage · more than -12%”
“Cisco Systems · fell more than · percentage · -12%”
“Cisco Systems · forecast Q3 adjusted gross margin · percentage range · 65.5% to 66.5%”
“Cisco Systems · is down · more than -10%”
“Cisco Systems · is · down · -9%”
“Cisco Systems · is down · more than -9%”
“Cisco Systems (CSCO) stock · fell · over 11% · as its gloomy profit outlook overshadowed a rise in sales”
“Cisco stock · fell · 7% · after issuing guidance below Wall Street forecasts”
“Cisco Systems · is down · percentage · -10%”
