"We sure don't like the trend in the enterprise IT spending," Chambers said.

Cisco net sales were US$11.6 billion, up 6.6 percent from the year-earlier period. Net income was $2.2 billion, up from $1.81 billion. The results edged out expectations of analysts.

However, Cisco's cautious outlook disappointed investors. Company officials forecast revenue of about $11.4 billion to almost $11.8 billion, lagging behind analyst estimates of $11.99 billion. Cisco shares declined to close Thursday at $16.81, down by $1.95, though they edged upward toward the end of the week.

Though much smaller than Cisco, the story for SGI was similar. Shares of the company fell by about 25 percent Thursday, after the hardware and services provider's Wednesday announcement that it would cut its sales and profit forecasts. Though the company reported solid sales growth for the quarter, it said some customers are delaying purchases, partly because they are waiting for the launch of new products. SGI also said profit margins are being squeezed as lower-cost hardware platforms sell faster than the higher-margin machines.

SGI reported revenue of $199.4 million, up 39 percent from the third quarter of 2011. The results were better than expected, and SGI said it's industry-strength hardware platforms are well suited for the big data needs of its customers.