Cisco Sees a Sales Slump Ahead
Networking hardware company Cisco Systems (NASDAQ: CSCO) beat expectations for its fiscal first-quarter results, but the numbers were overshadowed by a poor outlook. Cisco expects to report a substantial revenue decline in the second quarter, along with lower-than-expected adjusted earnings.
Up to this point, Cisco's results have held up well despite growing global economic uncertainty. But a tough macroeconomic environment was bound to catch up with the company sooner or later.
Cisco grew its first-quarter revenue slightly, and adjusted earnings per share surged thanks to a reduced share count from share buybacks.
Source Fool.com
