The Clap Cisco (NASDAQ: CSCO) reported earnings of 83 cents per share and revenues of $13.10 billion, both beating analysts’ expectations.
The Deets Although Cisco’s earnings beat expectations, the company is facing challenges to grow due to shifts in technology to cloud and subscription software.
Most of their revenue sources saw declines in the quarter, with the exception of the Collaboration segment featuring Webex, a collaboration that enables users to hold video conference calls, cloud call, and screen share.
Why this Matters Cisco’s stock price went up by 2.5% following the earnings report. Regardless of the company’s struggle, it still expects a better performance in the coming fiscal year in comparison to analysts.