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Is Cisco Systems Stock a Buy Now?

TheMotleyFool

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Is Cisco Systems Stock a Buy Now?: https://g.foolcdn.com/editorial/images/709992/it-professional-server.jpg

Cisco's (NASDAQ: CSCO) stock price jumped 5% on Thursday, Nov. 17, after the networking hardware and software giant posted its latest earnings report. For the first quarter of fiscal 2023, which ended on Oct. 29, Cisco's revenue rose 6% year over year to $13.63 billion and beat analysts' estimates by $340 million. Its adjusted earnings rose 5% to $0.86 per share, which also cleared the consensus forecast by two cents.

Does that steady growth indicate Cisco's stock is worth buying again after being buffeted by macroeconomic headwinds over the past year? Let's review its previous challenges and its recent progress to decide.

Image source: Getty Images.

Source Fool.com

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