Cisco (Nasdaq: CSCO) reported that while its bread-and-butter next-generation routing revenues remained flat, switching and service provider video revenues rose 2 and 30 percent to $3.6 billion and $1.3 billion, respectively, in fiscal Q3 2013.
The company's overall net sales were $12.2 billion, up 5 percent year-over-year, while earnings per share were $0.46 GAAP.
Cisco Chairman and CEO John Chambers said in the earnings release that they "are starting to see some good signs in the U.S. and other parts of the world which are encouraging."
From a geographic point of view, the Americas region grew 7 percent to $7.1 billion, while Asia Pacific grew 1 percent to $2 billion and Europe remained flat at $3.1 billion.
Looking forward, one technology area that could provide Cisco with potential growth is software-defined networking (SDN). To date, there are 500 customers beta testing the vendor's ONE platform.
These results and Cisco's overall outlook, which eased investor's concerns about lower technology spending that rival Juniper Networks (NYSE: JNPR) warned it would see in the next quarter, drove up the company's shares to $24.24 after the earnings were announced yesterday on the Nasdaq.
Cisco shares were up 11.8 percent at $23.71 at midmorning on Thursday on the Nasdaq stock exchange.
For more:
- see the earnings release
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