Cisco forecast knocked by supply chain snags, shares fall

FILE PHOTO: A man passes under a Cisco logo at the Mobile World Congress in Barcelona, Spain February 25, 2019. REUTERS/Sergio Perez

(Reuters) -Cisco Systems Inc forecast current-quarter revenue below expectations as supply chain shortages and delays drive up costs.

Shares of the network gear maker fell 6.3% in extended trading after it said it expects second-quarter revenue to grow 4.5% to 6.5% year-over-year, compared with Wall Street expectations of about 7.4%.