Cisco posts revenue, profit gains, continues push beyond networks
The company's revenue and profit were up compared with a lackluster Q4 2012
IDG News Service - Cisco Systems revenue and profit increased in the company's fourth quarter compared to a year earlier as the company continued its push to transcend its networking roots and become the world's top IT company.
Revenue rose 6 percent to US$12.4 billion in the quarter, which ended July 27. Net income rose even more steeply, up more than 18 percent to $2.3 billion.
Counted as earnings per share, the company's profit went up almost 17 percent to reach $0.42.
"My confidence in our ability to be the #1 IT Company is increasing," said CEO John Chambers in a statement. "Now, more than ever, our customers and our partners want Cisco's help navigating the inconsistent global landscape successfully. They recognize the benefit of a partner who is not only the leader in their product categories, but can bring technologies and solutions together in an architecture to lower operating costs, reduce time to results, and future proof their investments."
Last year's fourth quarter came amid widespread economic woes in Europe and cautious optimism from Cisco about signs of growth in the U.S. The company's core switching and routing business was flat during that period.
For its full fiscal year, Cisco's revenue rose 5.5 percent to $48.6 billion [b] and profit increased almost 25 percent to $1.86 per share.
- Silicon Valley's 19 Coolest Places to Work
- Is Windows 8 Development Worth the Trouble?
- 8 Books Every IT Leader Should Read This Year
- 10 Hot Hadoop Startups to Watch
- Slideshow: 7 security mistakes people make with their mobile device
- iOS vs. Android: Which is more secure?
- 11 sure signs you've been hacked
- CIOs Deliver Productivity Breakthroughs with Intelligent Digital Signage Retailers have long recognized the influence that digital signage provides over a shopper's point-of-purchase decision making process.
- How WAN Optimization Helps Enterprises Reduce Costs If you wanted to break down innovation into a tidy equation, it might go something like this: Technology + Connectivity = Productivity. Productivity...
- Four Little-Known Ways WAN Optimization Can Benefit Your Organization WAN optimization has evolved into a complete system that optimizes traffic across a broad range of most popular applications while providing deep visibility...
- SharePlan Security SharePlan is a continuous, secure, enterprise-ready file sync and share platform that facilitates smart, real-time collaboration across all devices.
- Online Video and Web Traffic: Sochi 2014 Winter Olympic Games Over 25 leading global broadcasters worked with Akamai to deliver the action, excitement and inspiration of Sochi because they understand online viewers expect...
- Video surveillance for IT: maximum image quality, minimum bandwidth Join us on Thursday, May 8th at 1 p.m. EST when Willem Ryan, Senior Product Marketing Manager at Avigilon, will discuss how IT... All Networking White Papers | Webcasts