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Cisco Reports 3Q13 Earnings

Cisco reported its third quarter fiscal 2013 earnings late Wednesday, showing overall growth and optimism for the rest of the year.

For the quarter, Cisco reported net sales of $12.2 billion, a 5 percent year-over-year gain. Net income was reported at $2.5 billion, or $0.46 per share, representing a 15 percent year-over-year increase. Moving forward, Cisco provided guidance for fourth quarter revenue growth in the range of 4 to 7 percent on a year-over-year basis.

Cisco did show some mixed results in its switching business. Cisco CEO John Chambers said during his company's earning call that overall switching revenues decreased by 2 percent during the quarter. This is not the first time that Cisco has had a quarterly decline in switching revenues. Cisco first quarter fiscal 2013 results also suffered a 2 percent switching revenue decline. The decline in Cisco's switching revenues has not been limited to just 2013, either. The trend surfaced during 2011, when Cisco experienced a 2 percent switching decline in both the second and the fourth quarter of the year.

Read the full story at Enterprise Networking Planet:
Cisco Optimistic About SDN as Revenues Grow

Sean Michael Kerner is a senior editor at InternetNews.com. Follow him on Twitter @TechJournalist.