Cisco stock plunges as vendor forecasts dreary Q4 results

The networking giants were affected by two major events during the quarter

clock • 2 min read
Cisco stock plunges as vendor forecasts dreary Q4 results

Cisco is continuing to see "solid demand" for its technologies despite two major events which it says led to its third fiscal quarter "not playing out as expected". The networking giant's revenue were flat year on year in Q3 2022 at $12.8bn, with product revenue up three per cent and service revenue down eight per cent. The quarter saw Cisco cease business operations in Russia and Belarus, which impacted its revenue by $200m, whilst Covid-19 related lockdowns in China resulted in a shor...

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