Cisco Sets Conservative Annual Growth Target
Cisco Systems Inc. has announced a lot of efficiency improvements lately, but some analysts still faulted management for unrealistic expectations. On Tuesday, the company took that issue off the table.
The big maker of networking equipment, which had repeatedly predicted that revenue could grow 12 percent to 17 percent a year, set a new target for annual growth over the next three years of 5 percent to 7 percent.
“We want to be conservative and set realistic goals that we can achieve,” said Frank Calderoni, executive vice president and chief financial officer, during a meeting with financial analysts here.