Cisco's quarterly revenue in its closely-watched security business missed analysts' estimates, raising concerns about the world's largest networking gear maker's efforts to transform into a software-focused company.
The company's shares fell about 2.5 percent in after-hours trading on Wednesday.
Source:https://www.reuters.com/article/us-cisco-systems-results-idUSKCN1AW2J8
@1xxxn
"...Ulevitch over Rittenhouse." bah...both are the same incompetent executives.
The truth is, that Goeckeler made a mistake choosing Ulevitch over Rittenhouse.
DU just don't have what it takes to run business of such size. He's a startup boy, and SBG never was and never will anything like that.
I know right, they didn't make as many Billions as expected.
Of course it didn't. Cisco doesn't have a clue how to address the security market. Anyone decent in this part of the business has either left or is looking to leave. It's just a buzz word at the moment, but there is no clear strategy. As usual the leadership are sitting on the fence, instead of leading the market direction.
The move to a "software" business is just smoke and mirrors to give the markets hope that we have a strategy to maintain margins, aside from sacking 1000's of people each year.
Expect a call for Chuckies resignation in the next 6-12 months.