Cisco has announced its earnings for the third quarter, with a stronger than expected performance.
Q3 revenue hit $12.1 billion (£7.65 billion), which was up 5 per cent year-on-year, and net income for the quarter was up almost 12 per cent on the same time last year at $2.4 billion (£1.5 billion), or $0.47 earnings per share.
Cisco also said that cash flow from operations sat at $3 billion (£1.9 billion), up from $2.9 billion (£1.85 billion) the previous quarter. Cash and investments sat at a total value of $54.4 billion (£34.5 billion).
The firm revealed that revenue for the first nine months of the fiscal year 2015 reached $36.3 billion (£23 billion), up from $34.8 billion (£22 billion) the previous year. Net income was $6.7 billion (£4.25 billion) for 2015 thus far.
John Chambers, Cisco’s chairman and CEO, commented: "Cisco is in a very strong position and we delivered another solid quarter. Our vision and strategy are working and we are executing very well in a tough environment, as evidenced in our revenue growth, profitability, strong gross margins and cash generation.”
He added: “Our customers feel the pace of change and disruption in every industry and market, and know their success depends on digitising their business. Whether they are the disruptor or the incumbent, they are coming to Cisco as their strategic partner.”