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05-14-2010, 10:28 AM
Cisco posted some solid earnings for the quarter and the year riding the wave of the bounce back in the technology market. We've all seen reports of companies planning to upgrade their networks and phone systems--moving to more UC-style setups--and Cisco is one of the main beneficiaries. Net income in Q3 grew to $2.2 billion on a GAAP basis, meaning they saw growth of 63 percent year over year.
Cisco announced a third-quarter income of $2.2 billion compared to a profit of $1.35 billion for the year-earlier period. Revenue rose from $8.2 billion in the same period last year to $10.37 billion.
Investors reacted a little poorly to the results with Cisco's stock dropping. Analysts speculate that Cisco is bouncing back from a poor year in 2009, that investors wanted to see more of a blow-out and that the company's revenue forecast was just in line with previous projections. Nevertheless, the company's moves in the the unified communications (UC) and video space are sure to effect future profits as businesses continue to upgrade their technology. As the economy gets better, up goes the UC industry and Cisco's profits.
For more:
- read the release (http://www.fiercevoip.com/press-releases/cisco-reports-third-quarter-earnings)
- read the MarketWatch report (http://www.marketwatch.com/story/cisco-posts-63-gain-in-profit-2010-05-12)
Related articles:
Cisco brings WebEx collaboration Blackberry
(http://www.fiercevoip.com/story/cisco-brings-webex-collaboration-blackberry/2010-04-26)Cisco, TANDBERG combined partner program 9 months away
(http://www.fiercevoip.com/story/cisco-tandberg-combined-partner-program-9-months-away/2010-04-29)HP throws guantlet at Cisco with new data center (http://www.fiercevoip.com/story/hp-throws-guantlet-cisco-new-data-center/2010-04-19)
More... (http://www.fiercevoip.com/story/cisco-posts-63-profit-jump/2010-05-13?utm_medium=rss&utm_source=rss)
Cisco announced a third-quarter income of $2.2 billion compared to a profit of $1.35 billion for the year-earlier period. Revenue rose from $8.2 billion in the same period last year to $10.37 billion.
Investors reacted a little poorly to the results with Cisco's stock dropping. Analysts speculate that Cisco is bouncing back from a poor year in 2009, that investors wanted to see more of a blow-out and that the company's revenue forecast was just in line with previous projections. Nevertheless, the company's moves in the the unified communications (UC) and video space are sure to effect future profits as businesses continue to upgrade their technology. As the economy gets better, up goes the UC industry and Cisco's profits.
For more:
- read the release (http://www.fiercevoip.com/press-releases/cisco-reports-third-quarter-earnings)
- read the MarketWatch report (http://www.marketwatch.com/story/cisco-posts-63-gain-in-profit-2010-05-12)
Related articles:
Cisco brings WebEx collaboration Blackberry
(http://www.fiercevoip.com/story/cisco-brings-webex-collaboration-blackberry/2010-04-26)Cisco, TANDBERG combined partner program 9 months away
(http://www.fiercevoip.com/story/cisco-tandberg-combined-partner-program-9-months-away/2010-04-29)HP throws guantlet at Cisco with new data center (http://www.fiercevoip.com/story/hp-throws-guantlet-cisco-new-data-center/2010-04-19)
More... (http://www.fiercevoip.com/story/cisco-posts-63-profit-jump/2010-05-13?utm_medium=rss&utm_source=rss)