🔴 Cisco Systems is trading 9.37% down today after weaker gross-margin guidance came in below estimates

Cisco Systems is trading 9.37% down at $112.27 after investors focused on weaker gross-margin expectations despite record fiscal fourth-quarter results.

• Reuters reported shares fell more than 4% after initially rising.
• Fourth-quarter revenue reached $17.3 billion and non-GAAP EPS was $1.22, beating estimates.
• Total gross margin fell to 66.3% from 68.4% a year earlier; first-quarter adjusted gross-margin guidance was 65%–66%, below market estimates. The broader technology sector is higher, making this primarily a company-specific earnings reaction.