Cisco Q3 revenue, earnings fall

Net income drops 21 percent, but John Chambers says the company's performance was solid given the economy

Cisco revenue for its third fiscal quarter fell 17% from a year earlier, while net income plunged 21% to $1.3 billion, or $0.23 per share.

Despite the declines, Cisco delivered solid financial performance given the weak global economy, and is well positioned for the eventual recovery, Chairman and CEO John Chambers said in a statement. The dominant networking vendor is considered a bellwether of technology, and its results and forecasts are being closely watched as signs of the economy's health.

Revenue fell to $8.2 billion in the quarter, which ended April 25.

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Cisco revenue for its third fiscal quarter fell 17% from a year earlier, while net income plunged 21% to $1.3 billion, or $0.23 per share.

Despite the declines, Cisco delivered solid financial performance given the weak global economy, and is well positioned for the eventual recovery, Chairman and CEO John Chambers said in a statement. The dominant networking vendor is considered a bellwether of technology, and its results and forecasts are being closely watched as signs of the economy's health.

Revenue fell to $8.2 billion in the quarter, which ended April 25.

Excluding certain one-time items, Cisco reported net income of $1.08 billion or $0.30 per share. Analysts polled by Thomson Reuters had expected earnings of $0.25 per share on revenue of $8.07 billion.

The IDG News Service is a Network World affiliate.