As it warned it would, Cisco Wednesday reported a steep drop in both its second quarter profit and sales, citing continued weakness in emerging markets and its service provider business.
For its second fiscal quarter, ended Jan. 25, Cisco reported revenue of $11.2 billion, down 7.8 percent from the $12.1 billion it reported in the year-ago quarter. The San Jose, Calif.-based networking giant managed to slightly beat analysts’ expectations of $11 billion in sales, according to data from Bloomberg.
Cisco’s net income for the quarter was $1.4 billion, down 54 percent from the $3.1 billion it reported during the same period last year.
