Cisco's earnings fall, but beat expectations

Shares of network equipment giant Cisco Systems (CSCO) have been seesawing after the market closed today on earnings numbers that beat the Street's expectations. Net sales fell by 18 percent year-over-year in Cisco's fiscal fourth quarter. For the full year, net sales fell by nine percent to $36.1 billion. Cisco logged GAAP earnings per share of 19 cents per share or the quarter which ended in July and $1.05 for the fiscal year.

While Cisco's earnings beat expectations, a closer look shows there are still some problems.