Cisco Earnings Strong

johnchambers handsup tbi

Cisco turned in strong earnings this afternoon.

EPS came in at $0.36 versus estimates of $0.31.

Revenue was $9 billion versus street estimates of $8.7 billion.

Cisco CEO John Chambers says the quarter built on last quarter’s “tipping point.”

“Building off what we saw as a clear tipping point in Q4, our Q1 results continued to reflect strong sequential growth trends that meet or exceed expectations during normal economic times. We view the improving economic outlook, combined with solid execution on our growth strategy, as creating unparalleled opportunity to drive more value into the core of the network. Simply said, we believe that key market transitions across collaboration, virtualization and video will drive productivity and growth in network loads for the next decade, and are evolving even faster than expected.”

Here’s the release.

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