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Jim Duffy

Q4 challenges not a downturn, Cisco CEO says

After marked improvement in its business following the wrenching restructuring and "reinvention" Cisco's gone though over the past year, the company - and perhaps the industry - are not out of the woods yet.

Cisco's current quarter, the fourth in its 2012 fiscal year, is likely to come in well below Wall Street expectations due to ongoing economic challenges - particularly in Europe - and conservatism in enterprise IT spending. Cisco's Q3 came in as planned last week, but the company's forecast for Q4 sent Cisco's stock plummeting and the markets downward.

"We are still in an uncertain environment economically and in global perspective," Cisco CEO John Chambers told analysts during the company's Q3 conference call last week, the same week of the Interop 2012 and CTIA industry trade shows.
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