TOUGH OUTLOOK: Cisco Systems Inc warned its revenue would dive as much as 10% this quarter, and keep contracting until after the middle of 2014, as a backlash against US government spying contributed to plummeting demand in emerging markets like China. — Reuters
NEW YORK: Cisco Systems Inc warned its revenue would dive as much as 10% this quarter, and keep contracting until after the middle of 2014, as a backlash against US government spying contributed to plummeting demand in emerging markets like China.
The hit comes after former US spy agency contractor Edward Snowden exposed widespread surveillance by the National Security Agency — in particular through Internet data, much of which is transmitted via Cisco's network equipment.
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