Don't read lots into forecast, says Cisco
By Jordan Robertson |
November 6, 2009, Friday
|
Print Edition
Print Edition
CISCO Systems Inc doesn't want Wall Street to interpret its forecast for its first quarterly revenue growth in a year as evidence that the United States and other economies are roaring back.
A slow improvement in orders is under way but the pace is still slow and the recovery is fragile, executives from the world's No. 1 maker of computer-networking equipment told analysts on Wednesday.
Cisco forecast that revenue will grow 1-4 percent in the current quarter, which ends in January. That would translate to revenue of US$9.2 billion to US$9.5 billion. Analysts polled by Thomson Reuters were expecting a decline from last year.
Cisco's results are seen as a gauge of how large corporations and government agencies and Internet providers are managing their technology budgets. Rising sales suggests they are loosening the purse strings to buy Cisco mainstays such as routers and switches, which direct data traffic.
Cisco's CEO, John Chambers, said orders are rising again after passing a "tipping point" in the downturn this summer.
Cisco executives urged caution, though, saying sales could still sputter if the economic recovery wobbles.
A slow improvement in orders is under way but the pace is still slow and the recovery is fragile, executives from the world's No. 1 maker of computer-networking equipment told analysts on Wednesday.
Cisco forecast that revenue will grow 1-4 percent in the current quarter, which ends in January. That would translate to revenue of US$9.2 billion to US$9.5 billion. Analysts polled by Thomson Reuters were expecting a decline from last year.
Cisco's results are seen as a gauge of how large corporations and government agencies and Internet providers are managing their technology budgets. Rising sales suggests they are loosening the purse strings to buy Cisco mainstays such as routers and switches, which direct data traffic.
Cisco's CEO, John Chambers, said orders are rising again after passing a "tipping point" in the downturn this summer.
Cisco executives urged caution, though, saying sales could still sputter if the economic recovery wobbles.
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