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Mashup: Chambers Holds Steady, WiMax Comes Alive

Posted May 07, 2008 12:29pm EDT by Aaron Task in Electronics, Media, Networking and Communication
Related: CSCO, GOOG, INTC, TWX, CMCSA, S, CLWR

Two big news stories broke late Tuesday not involving Microsoft-Yahoo.

First, Cisco Systems reported fiscal third-quarter earnings and revenue that beat expectations but essentially met the company's cautious guidance from the second-quarter call.

Tuesday's conference call had a very similar tone to its second-quarter call in February: Cisco is forecasting 9%-10% growth from the current quarter, but maintains its long-term growth rate of 12%-17% remains doable.

A big difference between the two calls is that last night's cautious tone was far less surprising vs.  back in February, which is why Cisco shares are basically flat today. It's also a sign Cisco CEO John Chambers has done a good job managing expectations during this downturn. (Apparently he learned a lesson after being very late in seeing the 2000 tech bust.)

Second, Sprint and Clearwire are spearheading a WiMax joint venture that is ambitious in its scope from both a technological and participatory perspective. In exchange for Sprint's spectrum and Clearwire's leadership, cable companies Comcast, Time Warner Cable, and Bright House Networks are contributing a combined $1.7 billion, while Intel is chipping in $1 billion and Google $500 million.

With that kind of broad technological expertise and financial firepower and so many participants, this WiMax venture can't fail, right?

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