By Sinead Carew and Nicola Leske NEW YORK (Reuters) - Cisco Systems Inc on Thursday cut its longer-term earnings and revenue growth targets due to problems in emerging markets, conservative customer spending and stalling growth in its core business of network equipment, the latest in a drumbeat of bleak developments at the Silicon Valley company. The company's shares fell as much as 3 percent to a seven-month low after it cut its three- to five-year revenue growth target to a range of 3 percent to 6 percent at its analysts' meeting. Cisco, which issued a warning on November 13 that revenue would decline in the current and coming quarters, also reduced its target for earnings-per-share growth to a range of 5 percent to 7 percent for the same period from its previous target of 7 percent to 9 percent. Chief Financial Officer Frank Calderoni said revenue in Cisco's core network equipment business would be flat to up 1 percent in the same time frame.
via Tech News Headlines - Yahoo News http://news.yahoo.com/cisco-ceo-chambers-sees-u-recovery-emerging-market-141900309--finance.html
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