Cisco forecasts first-quarter profit below estimates

Cisco Systems Inc forecast current-quarter profit below Wall Street estimates on Wednesday, because of soft demand for its newer businesses such as software and cyber security, sending shares down 7% in extended trading.

The company expects adjusted earnings of 80 cents to 82 cents per share in the first quarter of 2020, below analysts' estimates of 83 cents, according to IBES data from Refinitiv.