Cisco Outlook Shows Robbins Turnaround Hasn’t Spurred Growth
- Company reports seventh contraction in quarterly revenue
- CEO Robbins is pushing business into software and services
Cisco CEO Says Business Must Play A Role to Improve U.S.
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Cisco Systems Inc., whose machines form the backbone of the internet, predicted another revenue decline as the company tries to remake itself amid a changing networking industry.
Revenue in the current period may decline as much as 3 percent from a year earlier, the San Jose, California-based company said. That indicates sales of as little as $11.98 billion and compares with an average estimate by analysts for $12.1 billion. Net income in the fiscal first quarter, which ends in October, will be 48 to 53 cents a share. On average, analysts project earnings of 52 cents.