(Bloomberg) — Cisco Systems Inc. gave a lackluster sales forecast for the current period, a sign that businesses and government agencies are spending less in the pandemic-driven recession.Revenue will fall 9% to 11% from a year earlier in the fiscal first quarter, which ends in late October, the San Jose, California-based company said Wednesday in a statement. Analysts on average had projected a decline of about 7%. Adjusted profit will be 69 cents to 71 cents a share, lower than Wall Street expectations of 76 cents, according to data compiled by Bloomberg.Cisco shares fell about 4% in extended trading. The …read more
Source:: Yahoo Finance
