“We are looking at a slowdown since of Brexit”
Cisco’s earnings fell flat this 7 days, with the networking specialist posting a four p.c slide in revenues yr-on-yr to $twelve billion, though its infrastructure platforms and apps segments both fell eight p.c.
MP Securities analyst Erik Suppiger told MarketWatch he was “surprised” by an overall 6 p.c drop in Cisco’s orders yr-in excess of-yr, the worst he explained that he’s observed from the organization since the 2008-nine recession. Web money in the meantime dropped just in excess of $500 million to $five.eight billion.
In Europe, Cisco’s CFO Kelly Kramer was clear about the result in.
She told analysts on the company’s earnings phone: “The major driver [of the drop in earnings] when I appear at Europe was seriously the United kingdom.
“We are looking at a slowdown since of Brexit and we did see it in the