Cisco Systems stock slips 7% on light Q1 outlook

Cisco Systems Inc. shares dipped more than 7% in the extended session Wednesday after the computer-networking company reported fourth-quarter results that matched Wall Street estimates but offered a light Q1 outlook. The San Jose, Calif.-based company rang up $3.6 billion in net income, or 83 cents a share. Revenue rose 6% year-over-year to $13.43 billion. For the year, Cisco earned $2.61 a share on sales of $51.7 billion. Analysts surveyed by FactSet had estimated net income of 81 cents a share on revenue of $13.4 billion. Cisco shares are up 17% this year. The S&P 500 index has gained 13% this year.

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