Cisco Systems (Nasdaq: CSCO) Stock: Earnings Don't Tell the Whole Story

A slight earnings beat apparently wasn't good enough for Wall Street, which nudged Cisco (Nasdaq: CSCO) stock down more than 4% in after-hours trading.

Even an increase in the quarterly dividend by $0.02 a share, to $0.19, wasn't enough to deter the bears. Cisco's yield will rise to about 3.3%.

The maker of networking gear announced results after the market closed Wednesday and said it earned $0.47 cents a share in its fiscal second quarter, just barely beating expectations for $0.46 cents a share.

Revenue was $11.2 billion, also slightly higher than the $11.04 billion that analysts had forecast.

Investors were disappointed despite the beat because both numbers represent declines from the year-ago numbers.

Still, it would be a mistake to underestimate the veteran tech giant. Cisco is very much a company in transition right now, with an eye toward the future.

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