European weakness blamed, who could have possibly seen that coming? Europe has problems?
Reuters - Network equipment maker Cisco Systems (CSCO) beat third quarter earnings estimates, allaying some concerns about global technology spending even as questions remained about the San Jose company's ability to weather economic weakness.
Earnings, excluding items, were 48 cents per share compared with the average estimate of 47 cents a share as compiled by Thomson Reuters.
Revenue rose 6.6 percent from the year-ago quarter to $11.59 billion, compared with a Street view of $11.58 billion, the company said on Wednesday.