Knowing the market gets Cisco a US$10bn quarter

7 Feb 2008

Acting on key market transitions and moving into new sectors were cited by Cisco CEO John Chambers as the key reasons why the company turned in revenues of US$9.8bn in the second quarter.

The California-based networking giant reported a profit of US$2.1bn for the quarter.

During the quarter, Cisco completed the acquisition of WiMax provider Navini Networks.

The company also plans to invest up to US$1.6bn on ICT equipment in the United Arab Emirates in support of a 2015 vision of His Highness Sheik Mohammad Bin Rashid Al Maktoum to fuel the nation’s growth and development.

“Cisco delivered another solid quarter with strong revenue and order growth driven by a broad base of geographies, products, services and customer markets,” said Chambers.

“Cisco’s ability to understand market transitions, whether technology or business model-based, continues to be a key contributing factor to our long-term success.”

Chambers continued: “As we enter the second half of the fiscal year, our innovation pipeline is in excellent shape, our balanced product momentum across core and advanced technologies continues to be solid and execution against our long-term strategy remains unwavering.

“This constant evolution of moving into new markets and product adjacencies, alongside our core operational and financial strength, is the hallmark of Cisco’s ability to act upon key market transitions,” Chambers added.

By John Kennedy