Cisco stock drops after earnings include weak guidance

Cisco Systems Inc. shares dipped 7% in after-hours trading Wednesday after a disappointing forecast that could be related to weakness in China and tech-spending concerns that the networking giant has so far managed to avoid.

The San Jose, Calif.-based company CSCO, -4.00% rang up fiscal fourth-quarter earnings of $2.2 billion, or 51 cents a share, on revenue of $13.43 billion, up 6% year-over-year. After adjusting for stock-based compensation and other effects, Cisco reported $3.6 billion in non-GAAP net income, or 83 cents a share. Analysts surveyed by FactSet had estimated net income of 81 cents a share on revenue of $13.4 billion.

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