Networking behemoth Cisco has posted record results for its second quarter with net income up 39.7% on net sales that rose by 27.3% against the same quarter last year.
Revenue for this quarter hit $8.4-billion, up from $6.6-billion in Q2 of 2006, while net income was $1.9-billion compared to $1.4-billion in the comparative quarter.
"Cisco achieved record results that were well balanced across our geographies, products, services, customer segments and new markets," says Cisco chairman and CEO, John Chambers. "This illustrates our key competitive advantage of being able to develop a long-term vision, execute on our strategy and deliver consistent results.
"It is this unique ability to balance between strategy and innovation that has positioned Cisco to take advantage of key emerging business and IT trends such as the rise of video on the network," Chambers adds.
"As the network becomes the platform, we are seeing more and more signs that all forms of IT and communication are moving into the network and increasing the total available market to Cisco."
Chambers forecast an increase in Q3 revenues of between 15% and 17%.