Cisco: Enterprise spending slowdown may have leveled off

05/7/2009 | Wall Street Journal, The

Despite the fact that Cisco on Wednesday reported profit dropped 24% in the first quarter and revenue was off by 17%, CEO John Chambers told analysts that his company's sales are beginning to stabilize and predicted that the long slump in corporate IT spending is coming to an end. But, he said, "no one knows how long this leveling out will last or whether it will result in an upturn several quarters from now."

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