Cisco lowered its long-term revenue growth outlook this week, news that caused the networking technology vendor's stock to fall more than 2 percent on Thursday. The company cited continued weakness in its emerging markets, including Brazil, China, India, Mexico and Russia, and in its service provider business.
The latest revenue forecast comes just a month after Cisco warned that it expects revenue for its current second quarter to fall between 8 percent and 10 percent from last year.
On the plus side, Cisco said it still expects revenue to grow between 3 percent and 6 percent during the next three to five years. And CEO John Chambers said the U.S. market has picked up steam, particularly in multimillion-dollar deals.