Cisco Stock Leaps As Easing Supply Chains Power Q1 Earnings Beat, Profit Forecast Boost

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By Martin Baccardax CEO Chuck Robbins said easing supply chains allowed for a reduction product backlogs and improved component availability and helped produce a solid first quarter earnings beat. Cisco Systems (CSCO) – Get Free Report shares powered higher Thursday following a stronger-than-expected first quarter earnings report and a robust near-term outlook amid easing supply chain disruptions for the network equipment chipmaker. Cisco said adjusted non-GAAP earnings for the three months ending in October, the group’s fiscal first quarter, came in at 86 cents per share, topping Street forec…

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