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Cisco Beats Expectations

Posted by Susan Hall Nov 5, 2009 11:02:56 AM

Cisco joined the chorus of "the worst is behind us," in reporting on its fiscal first quarter.


Cisco CEO John Chambers told USA Today the "tipping point" came last summer. MarketWatch quotes him saying:

The quarter was very strong. The recovery is gaining momentum.

The company said net income fell 19 percent to $1.8 billion, or 36 cents a share, topping analyst expectations of 31 cents. Sales declined 13 percent to $9 billion but also beat forecasts.

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