Cisco’s Second-Quarter Profit Forecast Misses Estimates
This article is for subscribers only.
Cisco Systems Inc. gave profit and sales forecasts for the fiscal second quarter that missed analysts’ estimates, as phone carriers and other customers slow spending on networking equipment.
Profit for the period ending in January, excluding some items, will be 50 cents to 52 cents a share, short of analysts’ average projection for 53 cents, according to data compiled by Bloomberg. The company said sales will climb 4 percent to 7 percent in the current period, while analysts were projecting growth of 8 percent.