Tech

Cisco: Profit in the red, sales should grow again

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The network specialist Cisco holds out the prospect of a return to the growth path for the current quarter. Cisco expects sales to grow by 4.5 to 5.5 percent, as the company announced after the US market closed on Tuesday.

In the second fiscal quarter ended January 23rd sales stagnated according to the annual report but at twelve billion US dollars, about 9.89 billion euros. The quarterly profit fell by 11.6 percent to a good 2.5 billion dollars. The Cisco share temporarily lost around six percent in after-hours trading.

Cisco is actually in the business of products that are in high demand for working and learning from home in the corona pandemic: network equipment and video conference software. But competition is fierce – and some Cisco customers, such as companies with their own networks, are reluctant to invest while cloud services are booming. The software division, which includes the video conferencing service Webex, brought in sales of 1.35 billion dollars.


(olb)

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