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Cisco Systems Inc (CSCO.O) forecast current-quarter revenue that widely missed analysts' estimates and said it would cut 1,100 more jobs, as the world's largest networking gear maker steps up efforts to transform into a software-focused company.
Revenue in its closely-watched security business, which offers firewall protection and breach detection systems, rose 9 percent to $527 million, but missed analysts' estimate of $545.5 million, according to financial data and analytics firm FactSet Street Account.
Cisco, like other legacy technology players, is shifting its focus to high-growth areas such as security, the Internet of Things and cloud computing, amid intense competition from companies such as Huawei and Juniper Networks Inc (JNPR.N).
originally posted by: Mandroid7
I think cloud computing is a dead end biz.
Why would a business want their records sent across the internet, to be scooped up by everyone, then stored on someones server somewhere?
It sounds kinda retarded from a security standpoint.