Cisco Systems reported a revenue increase of 10 percent to $9.8 billion for its fiscal third quarter, a figure which spelled relief for many telecom industry types who know that Wall Street moves the entire sector up or down based on Cisco's performance. Still, service provider orders were down about 3 percent during the quarter. Service providers consistently have been a source of growth for Cisco, and CEO John Chambers has said the company will continue to rely on that market segment, which now provides at least 20 percent of its business.
Chambers is predicting 9 percent to 10 percent growth for Cisco for the fiscal fourth quarter, and says the company intends to eventually move toward annual growth of 12-17 percent. Profit for the fiscal third quarter declined slightly to $1.8 billion.
For more:
- see this report at The New York Times