Networking giant Cisco is one of the leading bellwethers of the tech industry, and, judging by its latest financial guidance, the outlook is sour. Reporting earnings for the first quarter of fiscal 2011, Cisco posted a handsome profit, but offered guidance of just 3 percent to 5 percent revenue growth.
On a call with financial analysts, CEO John Chambers admitted that the outlook is a disappointment, and attributed the spare numbers in part to “air pockets” in Cisco’s business, particularly in the government and cable sectors. Datamation looks at the numbers.
Is there trouble ahead in 2011 for the tech industry?
Networking giant Cisco reported its first quarter fiscal 2011 earnings this week, showing weakness in a few sectors and providing a very conservative outlook for the next quarter.