DE4CC0DE-5FC3-4494-BCBF-4D50B00366B5
Technology

Cisco Results Show Mixed European Performance

By square1
Share this article
Cisco Results Show Mixed European Performance

Cisco, a global leader in IT, has reported its second quarter results for the period ended January 26, 2013. Cisco reported second quarter net sales of $12.1 billion (€9 billion), up 5 per cent on a like-for-like basis, while net income on generally accepted accounting principles (GAAP) basis was $3.1 billion (€2.3 billion).

Net sales for the first six months of fiscal 2013 were $24.0 billion, an increase compared with $22.8 billion for the same period last year.

Europe, which accounts for a quarter of the group's business, saw revenues drop 5 per cent, while Asia-Pacific delivered growth of 8.3 per cent and revenues in the Americas rose by 9 per cent.

John Chambers, Cisco chairman and CEO said parts of Europe remained challenging with southern Europe remaining difficult. Speaking to analysts, Chambers said Germany and Northern Europe were promising. "We are seeing early signs of stabilization in government spending and also in probably a little bit over two thirds of Europe. But I want to watch that for at least another quarter before I get really excited about it," Chambers said.

The group's performance was driven by sales of equipment for data centres and cloud computing as well as demand for infrastructure for wireless networks and mobility. 65 per cent growth was recorded in Cisco's data centre division with a 27 per cent boost for its wireless business.

ADVERTISEMENT

"Cisco delivered record earnings per share this quarter and record revenue for the eighth quarter in a row in a challenging economic environment. We continue to drive the innovation, quality and leadership our customers expect, and we remain focused on consistent returns to our shareholders," Chambers said. (19 Feb)

© 2013 - ESM: European Supermarket Magazine by Sadhbh Connor

Get the week's top grocery retail news

The most important stories from European grocery retail direct to your inbox every Thursday

Processing your request...

Thanks! please check your email to confirm your subscription.

By signing up you are agreeing to our terms & conditions and privacy policy. You can unsubscribe at any time.