Cisco reported net sales of $9bn in the fiscal first quarter ending October 24, a decrease of 13% from the same period last year. Earnings per share at the US networking firm fell 19% to 30 cents per share. Chief executive John Chambers said a “tipping point” in demand had been reached in the previous quarter and that the economic outlook was improving.

Cisco also added $10bn to its stock repurchase programme. The company can now buy back up to $13.1bn worth of equity.

• Cisco press release:
  

2 Nov 2009 -

A decade is enough