Cisco cuts results forecast on China lockdowns, Ukraine crisis; shares plunge
(Reuters) -Cisco Systems Inc cut its full-year forecast for both adjusted profit and revenue on Wednesday as COVID lockdowns in China and the war in Ukraine hurt its business in the third quarter.
Source: www.reuters.com
1 Min Read
(Reuters) - Cisco Systems Inc missed estimates for third-quarter sales on Wednesday, hurt by COVID lockdowns in China and the war in Ukraine.
Revenue was flat year-over-year at $12.8 billion in the quarter ended April 30, missing analysts’ estimate of $13.34 billion, according to IBES data from Refinitiv.
Reporting by Yuvraj Malik and Eva Mathews in Bengaluru; Editing by Devika Syamnath
