Cisco Stock Surges After Strong Earnings and Guidance Update
After-Hours Stock Movers: Cisco Systems, Nike, Lumentum, Ulta Beauty
Cisco Systems (CSCO)
Cisco Systems (CSCO) stock soared nearly 7% in after-hours trading after the company reported better-than-expected fiscal fourth-quarter results and issued upbeat guidance.
The networking giant reported revenue of $13.2 billion, up 5% year-over-year, and earnings per share (EPS) of $0.88, exceeding analysts' estimates.
For its fiscal third quarter, Cisco guided for revenue growth of 4% to 6% and EPS of $0.90 to $0.93.
Nike (NKE)
Nike (NKE) shares rose 2% after the sportswear company reported strong quarterly results.
Revenue increased 12% to $12.7 billion, and EPS came in at $0.85, both ahead of expectations.
Nike's digital sales grew 14% in the quarter.
Lumentum (LITE)
Lumentum (LITE) stock jumped over 5% after the optical communications company reported solid earnings.
Revenue increased 8% to $491 million, and EPS was $0.43, exceeding analysts' estimates.
Lumentum's guidance for its fiscal third quarter was also positive.
Ulta Beauty (ULTA)
Ulta Beauty (ULTA) shares gained 4% after the cosmetics retailer reported stronger-than-expected same-store sales.
Comparable sales rose 14.4% in the quarter, and total revenue increased 24% to $2.3 billion.
Ulta Beauty also raised its full-year guidance.
Comments