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Cisco Reports Q3 Revenue Of $11.6 Billion

Cisco has revealed its third quarter earnings, bagging a revenue of $11.6 billion, and a net income of $2.2 billion.

Q3 revenue was up 7 per cent year-on-year, and net income up 20 per cent on the same period in 2011. Non-GAAP net income was $2.6 billion, or $0.48 per share, and Cisco chairman and CEO John Chambers called the results solid.

He said: "We delivered solid results this quarter with record revenue and non-GAAP earnings per share. We are successfully executing against our long-term strategic plan of growing profit faster than revenue, and in a cautious IT spending environment, we continue to outperform our competitors.

"In a world of clouds, video and mobile device proliferations, the role of the intelligent network has never been greater and our value proposition with our customers is the strongest it has ever been. Our vision and strategy is focused on the right market transitions, and I want to thank our shareholders, employees, customers and partners for their ongoing commitment to Cisco."

In terms of the full nine months of fiscal 2012, total revenue is now up to $34.4 billion - that's an increase of 7.5 per cent on the same period in 2011 when the company raked in $32 billion.

Net income for the first nine months of 2012 was $6.1 billion, up from $5.3 billion (on a GAAP basis).

Cisco also noted that cash flows from operations hit $3 billion in Q3, compared to $3.1 billion in Q2. Cash and investments totalled $48.4 billion at the close of the third quarter.