Cisco Stock Struggles Despite Earnings Beat, Strong Outlook

Cisco stock is lower Thursday even after the tech giant's beat-and-raise quarter. Here's what you need to know.

Cisco Systems logo in white with black backdrop on display at the Mobile World Congress in Spain
(Image credit: Joan Cros/NurPhoto via Getty Images)

Cisco Systems (CSCO) stock traded lower Thursday even after the networking equipment specialist's beat-and-raise quarter. 

In the three months ended April 27, Cisco's revenue decreased 13% year-over-year to $12.7 billion and its earnings per share (EPS) slumped 12% to 88 cents. The company closed its acquisition of Splunk during the quarter, helping its total annualized recurring revenue increase 22% year-over-year to $29.2 billion.

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Joey Solitro
Contributor

Joey Solitro is a freelance financial journalist at Kiplinger with more than a decade of experience. A longtime equity analyst, Joey has covered a range of industries for media outlets including The Motley Fool, Seeking Alpha, Market Realist, and TipRanks. Joey holds a bachelor's degree in business administration.