Boston, MA 05\/20\/2014 (wallstreetpr) \u2013\u00a0The networking gear manufacturer Cisco Systems, Inc. (NASDAQ:CSCO)<\/b> is worried about the ongoing surveillance by the U.S. National Security Agency into its technology. The comply complained in a letter to the White House that the unlawful infiltration of its technology and equipment would hurt its business and give market advantage to its competitors, mainly from China where it continues to face intense market competition.<\/p>\n
Cisco CEO John Chamber fired a letter to President Barack Obama, asking the president to curb government surveillance following circulation of pictures showing NSA staff opening boxes that contain Cisco equipment in transit to customers.<\/p>\n
The company claimed interception of its equipment by the security staff would erode the confidence that the company has with its customers, and that means that business will be lost to the competitors.<\/p>\n
Intense competition<\/b><\/p>\n
Cisco Systems, Inc. (NASDAQ:CSCO) has announced sales decline in recent times in post-Snowden revelation. The company said its Chinese customers were shifting to domestic suppliers while other global markets had their confidence in its technology wiped out following the revelation of the widespread NSA espionage.<\/p>\n
\u00a0With the competition growing intense in the global market especially in the emerging markets where Chinese companies are pulling customers to their side with cheap technology, Cisco Systems, Inc. (NASDAQ:CSCO) looks to developing superior technology to keep it in a leadership position as the provider of high-end networking technology.<\/p>\n
\u00a0Upbeat guidance<\/b><\/p>\n
Although Cisco Systems, Inc. (NASDAQ:CSCO) faces decline in sales due to intense competition and the increasing popularity of software networking, the company managed to post revenue in its 3Q2014 that exceeded Wall Street expectation. 3Q revenue came in at $11.5 billion, ahead of $11.4 billion that analysts estimated for the quarter. However, the revenue declined 5.5 percent on a year-over-year basis. The company earned a profit of $2.18 billion or $0.42 per share in the quarter. That compared with a profit of $2.48 billion or $0.46 per share in the year earlier quarter.<\/p>\n
Nonetheless, the company guided positively for the current quarter. It expects revenue to come between $12 and $12.3 billion, yet analysts on the average expect revenue on $11.8 billion in the current quarter.<\/p>\n","protected":false},"excerpt":{"rendered":"
Boston, MA 05\/20\/2014 (wallstreetpr) \u2013\u00a0The networking gear manufacturer Cisco Systems, Inc. (NASDAQ:CSCO) is worried about the ongoing surveillance by the U.S. National Security Agency into […]<\/p>\n","protected":false},"author":32,"featured_media":22896,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"twitter_2902945987_2902945987":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[263],"tags":[1701,605],"stock_ticker":[],"class_list":["post-22895","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology","tag-cisco-systems-inc-nasdaqcsco","tag-nasdaqcsco","entry"],"acf":[],"yoast_head":"\n