Cisco shares head for best day since 2020 on earnings beat, plans to cut 7% of workforce
Cisco Systems(CSCO) CNBC·2024-08-15 23:34
Cisco CEO Chuck Robbins participates in a Bloomberg Television interview at the World Economic Forum in Davos, Switzerland, on Jan. 18, 2023.Cisco shares jumped about 8% on Thursday and headed for their best day since March 2020, after the computer networking company said it's cutting 7% of its workforce and reported quarterly results that beat analyst estimates.Morgan Stanley analysts said in a note to investors that Cisco's results were better than feared."Cisco's FQ4 beat, and better than expected order ...