Cisco CEO reassures as concerns about growth percolate
Article Abstract:
Cisco Systems CEO John Chambers has reassured analysts that the netwroking behemoth would dominate more new markets, keep its acquisition binge and continue its strong yearly revenue growth of 50% or more. Despite the reasssurance, Cisco shares dropped 5.5% on Dec 4, 2000, to $45.81, near a 52-week low, but rose in after-hours trading to $47.88. The decline is due to investor concerns over whether the firm will sustain its year-to-year revenue growth of 30% to 50% if a recession hits and technology spending dries up.
Publication Name: USA Today
Subject: News, opinion and commentary
ISSN: 0734-7456
Year: 2000
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Uneasy tech watchers await Cisco's quarterly numbers
Article Abstract:
Cisco Systems' earnings for 4th qtr 2000 are eagerly being awaited by many, since its stock has come to symbolize the ascent of New Economy, and as a source of hope in the badly-battered technology sector. Wall Street observers have expressed concerns that remarks made by Cisco CEO John Chambers that the company would have slow growth could even drag down technology stocks further. For instance, portfolio manager of Barrett Growth Fund at Barrett Assoc, says Cisco's numbers are important for the market and Nasdaq.
Publication Name: USA Today
Subject: News, opinion and commentary
ISSN: 0734-7456
Year: 2001
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Net titan Cisco Systems' earnings growth stunted
Article Abstract:
Cisco Systems declared that its back-to-back quarterly revenue for 2nd qtr FY2001 climbed only 3.5%, which is the lowest rise in its history. Its revenue hit $6.75 billion, up from $6.5 billion the previous quarter. In the same period in FY2000, Cisco's net income rose to $874 million, or 12 cents per share, from $816 million, or 11 cents a share. During the 1st and 2nd qtrs FY2001, Cisco's US revenue has dropped from 54% to 49% of its total global sales.
Publication Name: USA Today
Subject: News, opinion and commentary
ISSN: 0734-7456
Year: 2001
User Contributions:
Comment about this article or add new information about this topic:
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