Cisco announces gloomy sales outlook

News

Cisco announces gloomy sales outlook

Kathleen Hall

Computer networking company Cisco Systems has surprised the market by forecasting sales that fell short of analysts' estimates.

Revenue in the fiscal second quarter will be somewhere between $10.1bn (£6.2bn) and $10.3bn, said the company in a conference call. This is short of analysts' predictions of $11.1bn.

According to Reuters, John Chambers, Cisco's CEO, warned of "short-term challenges" in Europe and public sector spending, as well as weakness among service providers.

However, the company reported solid results for its first quarter to October of an 8% rise in profit to $1.9bn and 19% revenue growth of $10.75bn.


Email Alerts

Register now to receive ComputerWeekly.com IT-related news, guides and more, delivered to your inbox.
By submitting your personal information, you agree to receive emails regarding relevant products and special offers from TechTarget and its partners. You also agree that your personal information may be transferred and processed in the United States, and that you have read and agree to the Terms of Use and the Privacy Policy.
 

COMMENTS powered by Disqus  //  Commenting policy