Cisco bounces back with bumper third quarter

 

Firm pulling clear of recession, CEO claims.

Cisco has reported stronger than expected third-quarter results, logging a 27 per cent year-over-year rise in sales to $10.4b (A$11.6b) and a 63 per cent increase in net income to $2.2b (A$2.46b).

The company said that the rise in sales and profits was "significant" given the current economic climate.

Cisco has increased its footprint across business areas and geographical locations, the firm said, thanks in part to its acquisition of videoconferencing firm Tandberg during the quarter.

John Chambers, chairman and chief executive at Cisco, was bullish about the company's success, and claimed that it pointed to a bright future.

"Our financial results were outstanding, achieving record revenue and earnings per share results," he said.

"We emerge from this downturn gaining market share, with dramatically improved customer relations as a trusted technology and business partner, and next-generation products in almost every category."

Chambers added that the firm's products, organisational structure, business models and acquisitions had given it "probably the strongest quarter in our history".

Copyright ©v3.co.uk


Cisco bounces back with bumper third quarter
 
 
 
Top Stories
Earning the right to innovate
Breaking down the barriers to innovation is a long, but rewarding process, says Bank of Queensland Group CIO, Julie Bale.
 
A call for timely reporting
[Blog post] Businesses need incentives to keep customer data secure.
 
Doubts cast on Queensland's ICT Dashboard
Opposition, former Govt CIO say it can't be trusted.
 
 
Sign up to receive iTnews email bulletins
   FOLLOW US...
Latest Comments
Polls
What is delaying adoption of public cloud in your organisation?







   |   View results
Lock-in concerns
  26%
 
Application integration concerns
  3%
 
Security and compliance concerns
  29%
 
Unreliable network infrastructure
  9%
 
Data sovereignty concerns
  23%
 
Lack of stakeholder support
  3%
 
Protecting on-premise IT jobs
  5%
 
Difficulty transitioning CapEx budget into OpEx
  3%
TOTAL VOTES: 835

Vote