Cisco bounces back with bumper third quarter

Cisco reported a year-on-year rise in sales to $10.4bn

Cisco has reported stronger than expected third-quarter results, logging a 27 per cent year-over-year rise in sales to $10.4bn (£7.03bn) and a 63 per cent increase in net income to $2.2bn (£1.48bn).

The company said that the rise in sales and profits was "significant" given the current economic climate.

Cisco has increased its footprint across business areas and geographical locations, the firm said, thanks in part to its acquisition of videoconferencing firm Tandberg during the quarter.

John Chambers, chairman and chief executive at Cisco, was bullish about the company's success, and claimed that it pointed to a bright future.

"Our financial results were outstanding, achieving record revenue and earnings per share results," he said.

"We emerge from this downturn gaining market share, with dramatically improved customer relations as a trusted technology and business partner, and next-generation products in almost every category."

Chambers added that the firm's products, organisational structure, business models and acquisitions had given it "probably the strongest quarter in our history".