Communications tech giant Cisco has beaten analyst expectations with a bumper fourth quarter revenue of US$12.8bn – up 4pc on last year – and a 6pc increase in net profits of US$3bn.
The iconic Silicon Valley company, which was founded by Leonard Bosack and Sandy Lerner on the campus of Stanford University, attributed the strong revenues to sales of collaboration, data centre, switching and routing products.
For the full fiscal year 2015, total revenue was US$49.2bn, up 5pc, and net income was US$11.4bn, up 5pc year-on-year.
‘The network’s strategic role at the centre of everything becoming digital – today and in the future – is why I strongly believe Cisco’s best years are ahead of us’
– CHUCK ROBBINS
“I’m stepping into the CEO role at an incredibly exciting time for Cisco,” said CEO Chuck Robbins.
“We closed out our fiscal year with record revenues and record non-GAAP EPS, for both Q4 and FY15. I’m particularly pleased with the strong growth of deferred revenue, which shows we are very effectively driving our business to a more predictable software-based business model, at the same time as growing revenues and earnings.
“These strong results show what we are capable of when we’re focused, and you can expect us to continue to drive the evolution of our portfolio to maximise the value we bring to customers in today’s rapidly-changing market.
“The network’s strategic role at the centre of everything becoming digital – today and in the future – is why I strongly believe Cisco’s best years are ahead of us,” Robbins said.
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