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Kiplinger
Kiplinger
Business
Joey Solitro

Cisco Stock Struggles Despite Earnings Beat, Strong Outlook

Cisco Cisco Systems CSCO Oppenheimer Splunk
Cisco Systems logo in white with black backdrop on display at the Mobile World Congress in Spain.

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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