Cisco shares fall after slight earnings beat, tepid outlook

Cisco Systems Inc. shares fell in the extended session Wednesday after the network equipment and services company's earnings beat Wall Street estimates slightly and its outlook range bookended the consensus view. Cisco shares fell 3.3% after hours, following a 0.7% decline to close at $45.16 in the regular session. The company reported fiscal third-quarter net income of $2.69 billion, or 56 cents a share, compared with $2.52 billion, or 50 cents a share, in the year-ago period. Adjusted earnings were 66 cents a share. Revenue rose to $12.46 billion from $11.94 billion in the year-ago period. Analysts surveyed by FactSet had estimated earnings of 65 cents a share on revenue of $12.43 billion. For the fourth quarter, Cisco estimates adjusted earnings of 68 cents to 70 cents a share on revenue of $12.62 billion to $12.86 billion. Analysts expect earnings of 69 cents a share on revenue of $12.72 billion.