Cisco’s earnings fell flat this week, with the networking specialist posting a four percent fall in revenues year-on-year to $12 billion, while its infrastructure platforms and applications segments both fell eight percent.
MP Securities analyst Erik Suppiger told MarketWatch he was “surprised” by an overall 6 percent drop in Cisco’s orders year-over-year, the worst he said that he’s seen from the company since the 2008-9 recession. Net income meanwhile dropped just over $500 million to $5.8 billion.
In Europe, Cisco’s CFO Kelly Kramer was clear about the cause.
She told analysts on the company’s earnings call: “The