NEW YORK (TheStreet) -- TheStreet's Jim Cramer says he did not think Cisco's (CSCO) quarterly report was that bad because of the good cash flow, their commitment to their dividend and their solid performance in Europe and North America.
Cramer says the biggest problem is with the service providers, the telcos, which have been frozen a bit because of so much merger and acquisition activity. He also points to a problems in Brazil, Russia, China and Mexico and he does not like the way Indonesia is shaping up. But if those come back online, then Cramer says investors will regret selling a stock that is up 9% to 10% for the year, which is particularly rare for this year.
Cramer thinks CEO John Chambers did a good job in the quarter.
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