Cisco posted better than expected profits last week, beating stock market estimates despite the difficulties other vendors are facing.
The company also reported a 33% revenue growth, the result of a strong demand for all its major lines of networking equipment.
According to analysts, Cisco is growing 50% faster than most other networking companies, largely because it is gaining share on weaker rivals. The company accounts for about half of the networking industry's sales, and nearly three-quarters of the industry's profits.
For the fiscal third quarter ended 25 April, Cisco's net income was $64.6 million (#38.7 million), compared to profits of $378.3 million (#226.5 million) a year earlier. Excluding a series of one-time charges, net income was $483 million (#289 million), more than analysts had expected.
Cisco's shares are now at an all time high and the company said sales in the quarter were strong in all its major market segments, including corporate computing customers, Internet Service Providers and telecoms companies. Cisco also said its shipments were balanced across geographical regions, suggesting that the variation between different economies was not an issue.
Cisco also made another acquisition last week. The prey was Class Data Systems from Israel. Class Data's software solutions enable policy-based quality of service in IP networks.
As networks become more complex, enterprise customers are looking to establish quality of service across IP networks using policy networking, an architecture that gives network administrators the ability to classify and prioritise network data traffic. This acquisition lends weight to the CiscoAssure Policy Networking initiative and will enable Cisco to offer quality of service end-to-end, the company claimed.
Cisco has also signed a joint endorsement with Microsoft for data, voice and video services based on the Data Over Cable Service Interface Specification (DOCSIS).
Cotton seedling freezes to death as Chang'e-4 shuts down for the Moon's 14-day lunar night
Fortnite easily out-earns PUBG, Assassin's Creed Odyssey and Red Dead Redemption 2 in 2018
Meteor showers as a service will be visible for about 100 kilometres in all directions
Saturn's rings only formed in the past 100 million years, suggests analysis of Cassini space probe data
New findings contradict conventional belief that Saturn's rings were formed along with the planet about 4.5 billion years ago