Cisco plans job cuts, drops growth target

12.05.2011

Cisco's profit for the quarter fell to $0.33 per share from $0.37 per share a year earlier. Its revenue rose just 4.8 percent, from $10.4 billion to $10.9 billion.

Though its results excluding one-time items matched or beat analysts' forecasts, the company's stock was hit by the report. In after-hours trading late Wednesday, Cisco shares were down $0.57 at $17.21.

The IDG News Service