Cisco Shares Gap Down Amid Gross-Margin Concerns
Cisco Systems' shares opened at $113.93 on Thursday, down from its previous closing price of $123.88.
The gap-down opening was likely caused by concerns over gross-margin pressure due to supplying large AI infrastructure projects.
Despite this, the company's strong Q4 earnings and guidance exceeded Wall Street estimates, with revenue rising 18% to about $17.3 billion and non-GAAP EPS of $1.22 surpassing the $1.17 consensus.