Cisco's CEO John Chambers believes that a strong Q2 earnings report at the company signifies that there is light at the end of the dark economic turmoil tunnel.
For Cisco, the numbers appear to support Chamber's assertion. During the quarter, Cisco reported revenues of $9.82 billion, an 8 percent increase over the same period last year. The company also saw a 23 percent jump in net profit to $1.85 billion.
In addition, company shares were up four percent as the company forecast revenue growth of 23-26 percent in the current quarter. This surpasses analyst expectations of a 16.5 percent increase.
"We saw very strong, balanced growth from a year-over-year perspective in almost all of the major geographies and market segment categories," he said in a conference call with analysts.
Contributing to the company's Q2 growth was an 11 percent increase in orders from service providers deploying routers and related equipment to support enhanced wireless devices like the iPhone. On a regional front, Cisco reported that it saw a 17 percent increase in U.S. orders, while Japan showed high teens growth and the rest of Asia grew in low double digits.
- see the release here
- Reuters also has this article
Cisco Q1: profit drops, but Chambers is confident of recovery
Cisco buys TANDBERG for $3B
Cisco's TANDBERG purchase rejected by shareholders
Cisco's routing revenue up, but fiscal Q4 revenues decline
Cisco continues to tighten its belt