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Why Cisco Systems Stock Just Popped 6%

TheMotleyFool

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Shares of Cisco Systems (NASDAQ: CSCO) surged in morning trading, up 6.2% as of 10:30 a.m. EST after reporting a "beat-and-raise" quarter.

For the fiscal first quarter of 2021, analysts had predicted Cisco would earn $0.70 per share on sales of just under $11.9 billion. In fact, Cisco reported $0.76 per share (albeit pro forma) on sales of precisely $11.9 billion. The company also guided for higher-than-expected earnings in the second quarter.

Image source: Getty Images.

Source Fool.com

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