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ZeroHedge reports:
Cisco reported a whole lot of numbers as part of its Q4 earnings release. For the most part these were largely irrelevant, but for the pedants out there here is what Wall Street is focusing on: revenue and EPS beats of $12.36 billion ($12.15 billion estimated) and $0.55 ($0.53 estimated) even as Chinese sales continue to crater, plunging 23% in the quarter: thank you NSA.
But the punchline was revealed into the conference call when John Chambers announced CSCO would proceed with another mass layoff, firing 6,000 people or 8% of its workforce.
Putting this number in context, CSCO also announced it had just spent $1.5 billion in the quarter to repurchase 61 million shares of its stock, bringing the total for 2014 to $9.5 billion (including $3.8 billion in dividends).
(Score: 0) by Anonymous Coward on Wednesday August 20 2014, @12:03AM
NT
(Score: 2) by zafiro17 on Wednesday August 20 2014, @11:22AM
That would be a terrible purchase for Microsoft, so I don't see it happening any time soon. It would put them in a market with low margins, in which Microsoft has no core expertise; it wins them little or nothing, it contributes nothing to their key strategic markets, and it drives no sales of their other products.
The best they could do would be to market some sort of X-Box like appliance based on Cisco hardware that provides some kind of NAS/gaming/backup/auxiliary services and a product like that ought to come out of their Xbox team, not by buying someone like Cisco.
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