For the three months ended April 26, the company reported a net income up 35% at $987m, on revenue that was down 4% on last year at $4.62bn. The earnings per share before one-time items was $0.15, which beat the First Call analysts’ consensus estimate by a penny.
Chambers, whose habit for the last several quarters has been to be incrementally cautiously optimistic about the economy, said in a conference call with analysts and investors that he was just a little more cautiously optimistic about the external factors affecting the business than he was in February.
Despite this, going into the fourth fiscal quarter, Cisco expects sales to be flat on the third quarter, which is usually seasonally weak for the company. Chambers reportedly also said that executives at companies Cisco sells to are expressing a little more optimism about the recovering economy than before.
Source: Computerwire
