It could be that Cisco's (Nasdaq: CSCO) helter-skelter approach to get bigger and better through acquisition is catching up. It could be just the economy. Whatever it is, the telecom colossus is going to have to do some explaining to the analyst community when it reports fiscal third quarter earnings on Wednesday.
Things must be bad. John Chambers, the Cisco chief executive known for his almost evangelistic approach to selling his business, declined an interview request from The New York Times as analyst Jeffrey Kvaal of Barclays Capital pronounced, "They're facing challenges that are multi-year."
Chambers has addressed the problems with employees via a memo that said, among other things, "We have disappointed our investors and we have confused our employees. Bottom line, we have lost some of the credibility that is foundational to Cisco's success--and we must earn it back."
For more:
- The New York Times has this story
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