Once again, Cisco’s John Chambers (CSCO) saved the bad news for the conference call: US and some European customers are still struggling. Revenue growth outlook for the July quarter is only 9%-10%, slower than last quarter and well below the company’s 12%-17% target.
The good news: Analysts have already taken their numbers down, so 9%-10% guidance is slightly above the midpoint of the current range. So the stock shouldn’t get shellacked.
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