Cisco Shares Plummet 8% Amid Fiscal 2027 Guidance

Cisco Systems Inc., ticker CSCO, shares plummeted around 8% on Thursday after the company released its fiscal 2027 guidance. The networking equipment maker guided for revenue between $72.2 billion and $73.4 billion, surpassing analyst estimates of $68.69 billion.

The projected adjusted earnings of $5.05 to $5.11 per share also exceeded consensus expectations of $4.80 per share. Despite the upbeat guidance, investors reacted negatively, sending shares down 8% in a day.

The selloff at Cisco came despite its strong third-quarter showing and subsequent guidance raise in May. The company's stock closed at $120.43 on Tuesday, down 1.8%, ahead of the earnings release.