Bigger than a quarter

5 November 2009 By Robert Cyran Follow @rob_cyran

The US networking giant sold more gear than expected and cut costs during its latest quarter. It also upped the amount of cash it promises to return to shareholders by $10bn. But Cisco s longterm strategic challenges remain to be tackled.

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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.

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