Takeaways From Cisco's Q3
Cisco stock is still down after the networking giant's third fiscal quarter earnings report on Wednesday contained weaker than expected revenue guidance and news of an additional 1,100 job cuts. The company said those cuts were in addition to last year's layoff, which was announced in August and affects 5,500 jobs.
Cisco's stock is at $31.31 per share as of Thursday morning, down 7.5 percent from Wednesday after the market closed. During the earnings call with analysts, CEO Chuck Robbins and CFO Kelly Kramer talked about the company's future, market competition, sales declines and much more. Here are the 10 biggest takeaways from Cisco's third quarter, which ended April 29.