Cisco reports $11.9 bn in revenue, net income up to $3.1 bn
San Francisco Feb 15 (IANS) Global networking major Cisco reported a revenue of $11.9 billion for the second quarter that ended January 27 pocketing a net income of $3.1 billion -- up 6 per cent from the second quarter of fiscal year 2017.
Cisco forecasts three-five per cent growth in revenue for the third quarter of 2018.
"We had a great quarter which demonstrates that our strategy is working. Our business is growing we have a fantastic innovation pipeline our balance sheet is strong and we have a team that s executing incredibly well " Chuck Robbins Chairman and CEO Cisco said in a statement late on Wednesday.
"The network is more critical to business success than ever and our new intent-based networking portfolio has great momentum including the fastest ramping new product in our history " Robbins added.
"Product revenue performance reflected solid growth in applications and security which each increased 6 per cent. Infrastructure platforms increased by 2 per cent " the company said.
Cisco recently acquired BroadSoft Inc. that offers cloud calling and contact centre solutions.
On January 24 it announced to acquire Skyport Systems Inc. that provides Cloud-managed hyper-converged systems that run and protect business critical applications.
"Q2 was a great quarter with 3 per cent revenue growth and strong margins and cash flow " said Kelly Kramer CFO of Cisco.
"We continue to make progress as we shift the business toward more software and recurring revenue " Kramer added.