Cisco profits fell almost 10 percent in the first quarter of its 2015 fiscal year, despite a slight increase in revenue to $12.2bn.
The revenue rise compares with $12.1bn in the same period last year. Despite this rise, profits fell to $1.8bn, down from $2bn in the Q1 2014 period, representing an 8.6 percent decline.
Cisco CEO John Chambers said that the company is pleased with the overall results, claiming it as the strongest revenue quarter for the company despite continuing headwinds in its key markets.
"When I think about the quarter, there are three key takeaways that we will call out in our following discussion. First, I would say, we are managing the business very well in a very tough environment," he said during an earnings call.
"Second, we are seeing the results of our three-year transformation work, moving from selling boxes to selling solutions and leading with innovation, speed and efficiency as we disrupt the market.
"Third, we are leading the technology and business transitions in the market."
Chambers also touted the success of Cisco's InterCloud strategy, noting that it now has 40 members and is positioning the company to take advantage of the cloud trend, despite the competitiveness of the market.
“We are frequently asked what Cisco is doing differently in the crowded cloud markets," he said.
"Simply put, we see the same problem in cloud that we saw 20 years ago in networking, where numerous networks operated on different technologies that didn't talk to one another.
"As we blew down the silos with ethernet, we made the internet pervasive. We are running the same play in cloud as only we can, unifying private, public and hybrid clouds."
The company also announced that chief financial officer Frank Caleroni is stepping down.
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