Cisco Beats Profit Estimates as Positive Sales Forecast Hints at Easing Supply Chain Shortages

Cisco Beats Profit Estimates as Positive Sales Forecast Hints at Easing Supply Chain Shortages

Cisco gave a positive forecast for first-quarter sales as a COVID-19 recovery in China eases supply chain shortages and helps it meet demand for networking hardware, sending the company’s shares 5 percent higher in extended trading. The results announced on Wednesday suggest networking equipment makers have started overcoming the component crunch that had…