Cisco touts growth in latest earnings

CEO John Chambers says the company is coming out of the downturn stronger and gaining a larger share of customers' "total wallet spend" via next-generation products.

Sam Diaz Senior editor, ZDNet
Sam Diaz is a senior editor at ZDNet. He has been a technology and business blogger, reporter and editor at the Washington Post, San Jose Mercury News, and Fresno Bee for more than 18 years.
Sam Diaz

Cisco Systems on Wednesday reported solid third-quarter financial results, noting that company witnessed a "return to strong balanced growth" across the board that has not been seen since before the economic downturn.

For the quarter, Cisco reported net income of $2.5 billion, or 42 cents per share, a 40 percent increase from the same quarter a year ago. Revenue was $10.4 billion, a year-over-year increase of 27 percent. Wall Street analysts had been expecting earnings of 38 cents per share on revenue of $10.24 billion. (Statement, Preview)

In a statement, Cisco CEO John Chambers said that the company is coming out of the downturn stronger, gaining market share and a "larger share of the total wallet spend of our customers" with next-generation products in across almost every category.

Read more of "Cisco earnings: 'Return to strong balanced growth'" at ZDNet's Between the Lines.