Weak Q4 Guidance & Roadmap Ahead
"We talked last quarter about the fact that our Service Provider business in emerging countries had been challenged, that continued and actually got a little worse. We also saw a significant slowdown in U.S. public sector, particularly the federal business – which is a pretty significant business for us – due to the uncertainty of budgets. Then as this transition to software and subscription continues, we put $500 million on our balance sheet last quarter in software and subscription business. So the fundamental strategy of moving to software and subscription, we've doubled that amount of revenue that is sitting on our balance sheet since I took the [CEO] job … As customers build out these next generation networks that are going to accommodate billions and billions of new devices, things like integrated security in the network are going to be critical, and that's what we're going to deliver for them."