Cisco beats quarterly estimates on strong switch, router sales
Network hardware behemoth manages to offset weak demand from telecos
Network hardware specialist Cisco beat projections on its fiscal second-quarter revenue and profit as sales of routers and switches helped offset meagre demand from telecoms operators, Reuters reported.
The company's second quarter ended on 24 January and saw hardware revenue increase 7.8% to $9.08bn. For 2014 as a whole, switch sales accounted for about 39% of total hardware revenue and routers for about 21.2%.
"We executed very well in a tough environment, and I'd say our strategy is playing out like we expected," said CFO, Kelly Kramer.
Cisco's share price rose 5.6% in after-hours trading yesterday.