Cisco Forecasts Sales That Miss Some Analysts’ Estimates
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Cisco Systems Inc. forecast sales this quarter that missed analysts’ most optimistic projections, citing growth challenges in China and Europe and the prospect of lackluster government demand for networking equipment.
Fiscal third-quarter sales will increase 4 percent to 6 percent from a year earlier, Cisco said on a conference call yesterday, indicating revenue of $12.1 billion to $12.3 billion. Analysts on average predicted sales of $12.2 billion, according to data compiled by Bloomberg.