Cisco Cuts Sales Forecast as Emerging Market Sales Stall
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Cisco Systems Inc., the biggest maker of computer-networking equipment, reduced its revenue forecast for the next three to five years amid weaker demand from emerging markets and telecommunications-service providers.
The company expects average sales growth of 3 percent to 6 percent in the coming years, Chief Financial Officer Frank Calderoni said today at a meeting with analysts in New York. That’s lower than an earlier projection for sales to rise 5 percent to 7 percent, which the company repeated last month.