Cisco beats the Street

"The results speak for themselves" - Chambers

Net bellwether Cisco Systems bettered Wall Street predictions with sales growth of 12 per cent for three months ending 27 July. Fourth quarter revenues hit $4.8bn compared to $4.3 a year earlier while profits were up from a paltry $7m to $772m this time around. Commenting on the results, Cisco CEO John Chambers said: "We continued to focus on what we can control, and the results speak for themselves. "Our operational performance is on par with peak historical results, especially in the areas of gross margins and income as a percentage of revenue."