Cisco’s (CSCO) quarter was fine — sales down 18% year-over-year as expected — but that’s not the important thing in its earnings report, released this afternoon.
CEO John Chambers says the company saw “a number of positive signs” in the economy and its business. And the worst, finally, may be past.
Here’s Chambers’ statement:
“We are confident in our strategic position in both existing and 30 adjacent markets. We saw a number of positive signs this quarter in the economy and in our business, especially comparing our sequential quarter-over-quarter order trends. If we continue to see these positive order trends for the next one to two quarters, we believe there is a good chance we will look back and see that the tipping point occurred in our business in Q4.”
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