Cisco Systems posted earnings figures for its second fiscal quarter which showed slight growth in revenue, earnings-per-share and net income over the same period last year. But all attention fell on comments by Cisco CEO John Chambers suggesting a tempered outlook for the company and technology spending overall. Chambers put revenue growth expectations for the coming quarter at 10% to 12%, which is down from the company's long-term expectations of 12% to 17% growth.
Chambers acknowledged an unexpected dip in spending by European service providers during the previous quarter, but said the company feels "comfortable" about that sector. And, the financial services sector that Chambers said late last year was looking weaker after the mortgage and credit crises, actually finished the recent quarter stronger than expected.
- Cisco reported healthy service provider growth last fallÂ