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Aaron Spatz is the writer of SEC Live Filings Digest, detailing the news of companies trading on U.S. stock exchanges. The Filings Digest is but one component of the greater website SEC Live, which specializes in making SEC filings easy to read, research, navigate, and much more.
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  • Cisco Revenue Growth Slows 0 comments
    Nov 14, 2013 9:34 AM | about stocks: CSCO

    Originally published at www.seclive.com

    Filing in Focus: Cisco 8-K, November 13, 2013

    Cisco Systems, Inc. (NASDAQ:CSCO) announced its financial results for the first fiscal quarter of 2014, reporting a slowdown in revenue growth. Revenue at the computer networking-equipment company rose only 1.8%, missing its own 3% to 5% growth projections. The company attributes the decline to weak demand in emerging markets like China, where it faces tough competition against the local Huawei Technologies. CEO John Chambers remarked that recent revelations about NSA surveillance could be causing some to stop and think before purchasing equipment from a U.S. technology company. Profits decline 4.6% from $2.09B and $0.39 per share to $2.0B and $0.37 per share, with revenue inching upward from $11.9B to $12.1B. When it anticipated business slowing back in August, the company announced its plans to trim 5% of its workforce in an effort to help reduce costs. Chambers believes the company always makes a turnaround, coming back stronger each time.

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

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