May 12, 2010

Posted in: Technology, World News

CSCO Says Recovery is Accelerating


Despite Cisco’s (CSCO) stock dipping 3% in after-hours, CEO John Chambers said: “While we believe the recovery is accelerating, no one knows for sure how long it will be, how long it will last, how strong it will be or the extent of new job creation.”

Spending heavy in an uncertain global economic environment may seem dicey, but Cisco isn’t clipping coupons just yet. The company generated $3 billion in cash flow during the quarter, and has more than $39 billion in the bank right now.

[Source]

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