View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Technology
May 15, 2014

Cisco beats Q3 expectations

A 5.5% decline in revenues keeps 'software defined networking disruption' on track.


Networking firm Cisco has beaten its own and analysts’ financial expectations despite a drop in Q3 revenue and profit.

The California-based company, which projected a decline in revenues of between 6% and 8% in February, said sales for the quarter ending in April dropped 5.5% to $11.5bn from a year earlier, as net profits fell 12% to $2.2bn.

The results topped analysts’ estimates of $11.4bn in sales.

Cisco said a resurgence in demand for its solutions in the US and Northern Europe helped offset sluggish sales in emerging markets Brazil, India and Russia.

In the US, Cisco posted revenue growth of 10% and a rise in product orders of 7% from a year earlier, while demand from Northern Europe grew by 4% in the same period.

"The traction we are seeing with application-centric solutions gives me confidence that we are leading the disruption of SDN," said CEO John Chambers in a statement.

He added that the company has "demonstrated clear progress on returning to growth".

Content from our partners
How the retail sector can take firm steps to counter cyberattacks
How to combat the rise in cyberattacks
Why email is still the number one threat vector

Cisco, which is currently working with AT&T, GE, IBM and Intel on building cloud infrastructure for the Internet of Things (IoT), recently announced Guido Jouret, head of its IoT unit, stepped down after just seven months in the job.


Websites in our network
NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. Tech Monitor's research, insight and analysis examines the frontiers of digital transformation to help tech leaders navigate the future. Our Changelog newsletter delivers our best work to your inbox every week.
I consent to New Statesman Media Group collecting my details provided via this form in accordance with the Privacy Policy