Cloud Growth – Cisco posts 79 percent jump in quarterly profit

Cisco Systems CEO John Chambers on Wednesday reported strong revenue and profit — as well as thousands of new hires around the globe, including hundreds in San Jose — but his upbeat comments came amid “mixed signals” from customers nervous about the wobbly global economy.

On a day markets plunged on worries about a stalling economic recovery, Cisco, the San Jose maker of the plumbing for the Internet, reported a $1.9 billion profit for its fourth quarter, a 79 percent increase from the same period a year earlier. Earnings were 33 cents a share, or 43 cents a share excluding certain charges.

Sales jumped 27 percent to $10.8 billion. For fiscal year 2010, Cisco had sales of $40 billion, an 11 percent increase from the previous year. The results were in line with Wall Street’s expectations. Analysts polled by Thomson Reuters were expecting adjusted earnings of 42 cents a share on revenue of $10.87 billion.

But Cisco’s conservative forecast for the current quarter — revenue growth of 18 to 20 percent — gave investors jitters. In after-hours trading, shares of Cisco dropped $1.89, or 7.96 percent, to $21.85.

Continue Reading at: SiliconValley

Follow Us!

CloudTweaks

Established in 2009, CloudTweaks.com is recognized as one of the leading authorities in cloud computing information. Most of the excellent CloudTweaks articles are provided by our own paid writers, with a small percentage provided by guest authors from around the globe, including CEOs, CIOs, Technology bloggers and Cloud enthusiasts. Our goal is to continue to build a growing community offering the best in-depth articles, interviews, event listings, whitepapers, infographics and much more...
Follow Us!

4 Responses to Cloud Growth – Cisco posts 79 percent jump in quarterly profit

Comics

At CloudTweaks, we're plugged into the cloud, the internet of things and all that the web has to offer. From wearable technology, to mobile computing, cloud computing and big data, CloudTweaks is your source for updates and news on the most innovative technology.

Popular

Top Viral Impact

Cloud Infographic: Cloud Computing Growth

Cloud Infographic: Cloud Computing Growth

An excellent infographic provided by AwesomeCloud which predicts a continued high level of growth in the cloud computing industry. Potentially staggering numbers for Public Cloud IT Services of $100 Billion by 2016. Infographic Source: AwesomeCloud About Latest Posts Follow Us!CloudTweaksEstablished in 2009, CloudTweaks.com is recognized as one of the leading authorities in cloud computing information. Most of the…

Big Data Analytics Adoption

Big Data Analytics Adoption

Big Data Analytics Adoption Big Data is an emerging phenomenon. Nowadays, many organizations have adopted information technology (IT) and information systems (IS) in business to handle huge amounts of data and gain better insights into their business. Many scholars believe that Business Intelligence (BI), solutions with Analytics capabilities, offer benefits to companies to achieve competitive…

Cloud Infographic – What Is The Internet of Things?

Cloud Infographic – What Is The Internet of Things?

What Is The Internet of Things? “We’re still in the first minutes of the first day of the Internet revolution.”  – Scott Cook The Internet of Things (IOT) and Smart Systems are based on the notions of Sensors, Connectivity, People and Processes. We are creating a new world to view and measure anything around us through…

Monetization of the Internet of Things – Q&A With Brendan O’Brien

Monetization of the Internet of Things – Q&A With Brendan O’Brien

Q&A With Brendan O’Brien, Co-Founder of Aria Systems (Part 1) Monetization of the internet of things (IoT) is one of the most exciting and challenging issues facing the industry today, so we spoke with Brendan O’Brien to learn more. Brendan is the Co-Founder of Aria Systems, who are one of the leading innovators in recurring…

Featured Sponsors

Watching You Shop: Stores And Mannequins “Read” Their Customers And Respond

Watching You Shop: Stores And Mannequins “Read” Their Customers And Respond

Watching You Shop The mannequin in the store window stares blankly ahead as shoppers look at the clothes it is dressed in and contemplate a purchase. One shopper makes some comments. “It’s nice. I wonder if they have my size.” Another takes a few steps inside the store to see where these particular clothes might…

Sponsors

Going Global With The Cloud: Anywhere, Anytime Access

Going Global With The Cloud: Anywhere, Anytime Access

Let’s cut right to the chase… Lots of companies have offered 24/7 availability of systems and data to their customers and employees for years. What else is new? What’s new is that a cloud computing environment can make 24/7 availability possible for small and medium size enterprises (SMEs). (Infographic Source:Towergate) Previously, only organizations with robust IT…

Placement Opportunities - Find Out!

Established in 2009, CloudTweaks is recognized as one of the leading influencers in cloud computing, big data and internet of things (IoT) information. Our goal is to continue to build our growing information portal, by providing the best in-depth articles, interviews, event listings, whitepapers, infographics and much more.

You can help continue to support our community by social sharing, sponsoring, partnering or contributing to this great educational resource.

Contact

CloudTweaks Media
Phone: 1 (212) 763-0021

Join Our Newsletter