Good Sign for Tech: Cisco Delivers Solid Numbers

Cisco


Systems shares are trading sharply higher in late trading Wednesday after the networking equipment provider posted solid results for its fiscal second quarter ended Jan. 28, while sharply increasing its outlook for the full year.

Cisco now expects fiscal 2023 to be its best growth year in at least a decade. The strong earnings report and surprising outlook should provide a boost to investor sentiment on the outlook for enterprise technology spending.