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 $2.5bn (£1.7bn), or 42 cents per share, a 40-percent increase from the same quarter a year ago. Revenue was $10.4bn, a year-over-year increase of 27 percent. Wall Street analysts had been expecting earnings of 38 cents per share on revenue of $10.24bn, according to a company statement.
Cisco chief executive 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.
For more on this story, see Cisco earnings: "Return to strong balanced growth" on ZDNet.com