Cisco sees slower growth in second quarter

SLOW BUT STEADY: A Cisco office pictured in San Diego. The company reported first quarter results that beat estimates but expects flat earnings and slower revenue growth for the current quarter. — Reuters

NEW YORK: Cisco Systems Inc reported first quarter results that beat estimates but expects flat earnings and slower revenue growth for the current quarter.

“We are modelling Europe to get worse before it gets better,” chief executive John Chambers said on Tuesday, echoing his comments from the company’s fourth-quarter earnings call in August.