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Cisco’s stellar quarter, guidance raise overshadowed by investor concerns about its backlog



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Computer networking giant Cisco Systems (CSCO) on Wednesday delivered a beat on revenue and profit for its fiscal second quarter, while significantly raising its guidance. But the impressive results were overshadowed by lingering questions about the state of new orders for its hardware, leaving us cautious about the future of the Club holding. Revenue increased 7% year-over-year, to $13.6 billion, outpacing analysts’ expectations for $13.43 billion in revenue, according to estimates compiled by Refinitiv. Adjusted earnings-per-share (EPS) grew 5% year-over-year to 88 cents, ahead of analysts’ forecasts for EPS of 86 cents, Refinitiv data showed. Shares of Cisco climbed about 3% after hours, to nearly $50 per share, in a move that would push its gains to about 5% since the start of the year. Bottom line …

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