Cisco sees slower growth in second quarter

Cisco Systems Inc reported first quarter results that beat estimates but expects flat earnings and slower revenue growth for the current quarter.

“We are modeling Europe to get worse before it gets better,” Chief Executive John Chambers said, echoing his comments from the company’s fourth-quarter earnings call in August.

However, he added that “we see signs of improvement in the U.S. in enterprise, service provider and commercial.”

Still, Chamber said, it was too early to speak of a trend ”though we are continuing to see what we like.”

via Business feed http://www.scmp.com/business/companies/article/1082164/cisco-sees-slower-growth-second-quarter