Cisco's turnaround gaining traction

A return to the core business of switches and routers is the driving force behind a turnaround in Cisco’s results, the company’s chairman and CEO says.

Cisco’s latest quarterly report shows net income falling 7.9% to US$1.8 billion, but net sales rising 4.7% to US$11.3 billion.

Cash and cash equivalents were US$44.4 billion, compared with $44.6 billion three months previously.

Company head John Chambers described the quarter as ‘solid’.

"We’ve completed the majority of our restructuring and have organised Cisco to successfully execute against our strategy of providing intelligent networks, architectures and integrated products that solve customers’ business problems,” Chambers says.

Go here to read the full results.