Networking equipment maker Cisco Systems, Inc. (CSCO) late Wednesday posted fiscal third quarter earnings results that narrowly beat Wall Street’s expectations.
The San Jose, CA-based company reported adjusted fiscal third quarter net income of 48 cents per share. Revenue rose 7% from last year to $11.6 billion.
On average, Wall Street analysts expected a slightly smaller profit of 47 cents per share, on slightly lower revenue of $11.58 billion.
Cisco shares closed slightly higher in Wednesday trading, but the stock was indicated lower following its after-the-bell earnings report.
The Bottom Line
Shares of Cisco Systems (CSCO) have a 1.70% dividend yield, based on today’s closing stock price of $18.78. The stock has technical support in the $16-$17 price area. If the shares can firm up, we see overhead resistance around the $20-$21 price levels.
Cisco Systems, Inc. (CSCO) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.2 out of 5 stars.