John Chambers, the CEO of Cisco, announced Cisco’s financial results exceeded Wall Street expectations for the third quarter in a row and is in search of new growth in 2012. At a conference on Wednesday, Chambers said, “We believe that our vision and strategy are working very well.”
Wall Street analysts, polled by Thomas Reuters, expected Cisco to report earnings of 34 cents per share, or 43 cents per share after excluding on-time expenses, which would give Cisco revenue of $11.2 billion. Cisco Systems reported earnings of 40 cents per share, or 47 cents per share after excluding one-time charges. Sales went up almost 11 percent from a year ago and profit went up 43 percent to $2.2 billion. Cisco reported sales revenue of $11.5 billion. Chambers said, “The results appear to show that we are getting a higher share of total IT spending than many of our peers and competitors.”
