Cisco plummeting on tepid outlook, falling margins
Shares of Cisco Systems (Nasdaq: CSCO) are plunging after the networking giant's posted an 18 percent drop in profit and fourth consecutive decline in quarterly margins.
As of 9:45 a.m. Cisco shares are down 12.1 percent.
Cisco also warned that its full-year sales figure would come in at the lower end of its earlier range as the company faces growing pressures in its core network switching business.
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