Stories
Slash Boxes
Comments

SoylentNews is people

posted by janrinok on Friday August 16 2019, @04:08AM   Printer-friendly
from the revenge-for-huawei dept.

Cisco warned of problems on the horizon as it wrapped up it fiscal 2019 financial results [PDF].

[...]"Our Q4 results marked a strong end to a great year," Cisco CEO Chuck Robbins said of the numbers. "We are executing well in a dynamic environment, delivering tremendous innovation across our portfolio and extending our market leadership."

Where Cisco took a hit, however, was in its outlook for the fiscal 2020 first quarter. Switchzilla told analysts it only expects to see growth of 0-2 per cent year over year, and EPS will sit between 80 and 82 cents. Both were well short of what analysts had expected from the networking giant.

Cisco also warned that it was taking a big hit in China, where the ongoing trade wars and state-backing for local companies has got so bad that Robbins said his company has been "uninvited" and frozen out of bidding for deals with telcos in the Middle Kingdom.


Original Submission

 
This discussion has been archived. No new comments can be posted.
Display Options Threshold/Breakthrough Mark All as Read Mark All as Unread
The Fine Print: The following comments are owned by whoever posted them. We are not responsible for them in any way.
  • (Score: 0) by Anonymous Coward on Friday August 16 2019, @03:13PM (1 child)

    by Anonymous Coward on Friday August 16 2019, @03:13PM (#881121)

    Lot of ‘forgoing partnerships’ with local partners in this old article on Cisco. Guess what, that wasn’t voluntary, it was a requirement to do business there : transfer tech to the local partner
    https://www.dowjones.com/scoops/cisco-connects-with-chinese-partner-to-bolster-struggling-china-business/ [dowjones.com]

    Huawei was kicking Cisco’s butt in China anyway And ironically Huawei got its start stealing Cisco’s router tech.
    https://www.forbes.com/sites/arthurherman/2018/12/10/huaweis-and-chinas-dangerous-high-tech-game/#38c8889e11ab [forbes.com]

    If anyone should praise the trade war it should be Cisco but they want their crumbs, crumbs are better than nothing.

  • (Score: 2) by HiThere on Friday August 16 2019, @05:54PM

    by HiThere (866) Subscriber Badge on Friday August 16 2019, @05:54PM (#881200) Journal

    Since they didn't already *have* business there, yes, that was a voluntary action. They looked at the risks and plunged ahead. It's quite reasonable to say that was stupidly shortsighted, but it was voluntary shortsighted stupidity.

    I don't really know anything about routers since simple token-ring networks were the standard, so I can't comment on just how much Huawei benefited from Cisco's proprietary information.

    --
    Javascript is what you use to allow unknown third parties to run software you have no idea about on your computer.