TheStreet.com media critic Marek Fuchs writes Wednesday that business news stories about Cisco’s recent earnings have the company meeting analyst expectations — but only because the company lowered expectations, which isn’t mentioned or buried in most stories.
‘Traders had been on edge after Chambers reduced expectations for revenue in the fiscal third quarter. On the company’s last conference call, Chambers cut Cisco’s fiscal third-quarter guidance to 10% growth, down from the 15% previously expected.’
“Read The San Jose Mercury News and it’s as if the company never lowered top line expectations. Here’s the headline, ‘Positive numbers for Cisco: GROWTH FOR QUARTER EXCEEDS EXPECTATIONS’ and here’s the lead: ‘Cisco Systems, often considered a bellwether for the health of the technology sector, reported third-quarter growth on Tuesday that exceeded expectations.’
“True enough on the profit side. But that revenue? The way the company ratcheted them down only three months ago? Is it mentioned anywhere in the body of the article? No.”
Read more here.
Financial Times reporter Simon Foy is now covering European banks. He has been covering accounting for the…
Debtwire, the leading provider of global fixed income news, analysis and data for more than…
Amber Kanwar, an anchor for BNN Bloomberg in Canada, is departing at the end of…
Moody's Ratings has promoted Yvette Kantrow to senior vice president and editor in chief. She has been…
Politico reporter Clare Fieseler is leaving the news organization to take on some ocean reporting projects. She…
Wall Street Journal reporter Ben Eisen has signed a contract with Norton to write a book about…