Cisco’s Forecast Tops Estimate as CEO Seeks Turnaround
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Cisco Systems Inc. gave a forecast for fourth-quarter profit and sales that topped analysts’ estimates, as Chief Executive Officer John Chambers seeks to restore growth and prepare the company to meet new challenges.
Orders in the U.S. are climbing on demand for networking machines to handle mobile-data traffic. Revenue in the current period through July will be $12 billion to $12.3 billion, based on the company’s forecast for a drop of 1 percent to 3 percent. Analysts were projecting, on average, sales of $11.8 billion.