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Joined Oct 24, 2016
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CSCO Issues Horrendous Forecast And Announces 1100 Layoffs – Down 8% AH

Despite better than expected third quarter earnings, Cisco is getting hammered in after hours trading – off over 8% after the company issued horrendous guidance and announced the layoff of 1,100 jobs, adding to it’s previously announced cut of 5,500 last August.

The company reported a net income of $2.52 billion and earnings of .60c / share on sales of $11.94 billion after adjusting for stock-based compensation and other effects. Analysts were expecting .58c / share on sales of $11.89 billion.

But who the fuck cares about that?

CEO Chuck Robbins just guided way lower, predicting a drop of 4-6% vs. a 1% expected decline, with EPS estimates coming in light as well. Robbins is pointing to a slowdown in federal govt. spending as a ‘large factor,’ as well as a ‘lack of budget visibility.’

Sorry CSCO – looks like Trump has put the brakes on the bottomless govt. surveillance pit you guys have been leeching off for the better part of a decade.

 

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2 comments

  1. ironbird

    Mega cap Tech suffers the libtard alone in the ghetto at night. Off and on. What happened to the police saving my faggot reality? What happened to not eating a machete to the face? What happened to my asshole!?! You libtards are on your own now. Prepare.

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  2. sarcrilege

    Not Trump but countries such as Russia and China are very much aware that using Cisco products allows the U.S. gov to attack them almost at will and Cisco products form a security threat for them; thus, no longer buying them.

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