Cisco Report Gets Positive Reception. Should You Be Buying?

·3 min read
Cisco Report Gets Positive Reception. Should You Be Buying?

Cisco Systems on Thursday is up almost 7% after the telecom-equipment stalwart reported better-than-expected fiscal-fourth-quarter earnings. While the company hardly blew the doors off when it comes to growth — earnings slipped 4% year over year and revenue was flat — Cisco beat earnings and revenue expectations. Further, Cisco provided 2023 revenue guidance calling for 4% to 6% growth, while saying it expects gross margin to normalize as supply-chain pressures ease.