Cisco Report Gets Positive Reception. Should You Be Buying?

Cisco Systems (CSCO) Thursday was up nearly 7% after strong telecom equipment reported better-than-expected fourth-quarter earnings.

It’s the best post-gain response since November 2020 and much better than the 14% beating it took when it was last reported in May.

While the company barely blew out when it comes to growth — profits fell 4% year over year and sales flat — Cisco beat earnings and revenue expectations.

Furthermore, Cisco issued a revenue forecast for 2023, calling for growth of 4% to 6%, while saying it expects gross margin to normalize as supply chain pressures ease.

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