Evening tech news: After postponing its IPO last year, Adaptec will spin off its Roxio software division on May 11; Cisco posted a $2.69 billion net loss for its third quarter, the company's first loss ever, as sales fell a staggering 29 percent from the previous quarter; and as Napster's popularity plummets, some are questioning the future of peer-to-peer file sharing.
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What I think is more amazing is that that $2.5 billion loss took place in 3 months when the previous 3-month period (and every period before it) they had reported a profit. How, in such a short time, could they misjudge the market THAT much? Then again, many of their products cost tens of thousands, maybe even hundreds of thousands of dollars, and they are THE company to go with. Sure there are competitors, but no serious business would buy from them with the reputation Cisco has for quality and performance in its products.
- Jeff
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Holy s***
A net loss of 2.5 billion? Geez.