The Channel logo


By | Richard Chirgwin 13th November 2014 03:31

Cisco ends Q1 an inch ahead of guidance

Lines up new CFO to start in 2015

Cisco has farewelled its chief financial officer after announcing results that showed a still-beating heart somewhere in the giant switch market.

Net income for the Borg's first quarter was reported at US$1.8 billion, on revenue of $12.2 billion, about US$40 million ahead of Wall Street's expectations. The company also announced that CFO Frank Calderoni is stepping down on January 1, to be replaced by senior veep of business technology and operating finance Kelly Kramer.

John Chambers, reading from the slides, said Cisco's transformation means the company is moving from “selling boxes” to selling solutions “as we disrupt the market” (given Cisco's dominant position, El Reg is moved to wonder whether this means the Borg is demonstrating the first example of auto-disruption).

He claimed victory in the SDN market courtesy of the Nexus 9000 and ACI (application-centric infrastructure) product lines.

Chambers described Cisco's recent deals with General Motors, and the cities of Barcelona and Chicago as examples of the company's future. He also said the high-end switching and routing market is improving, but reduced spend at “several large US service providers” will impact the company's predictions for Q2.

The Asia-Pacific market was the under-performer for Cisco, with a year-on-year Q1 result 12 per cent down, while Americas rose by two per cent and EMEA rose by six per cent. US service providers were a real disappointment, down by 10 per cent (and that's not counting AT&T's threat to hold its gigabit fibre builds until it gets its way on the 'net neutrality debate). ®

comment icon Be the first to post a comment! alert Send corrections


Frank Jennings

What do you do? Use manual typwriters or live in a Scottish croft? Our man advises
A rusty petrol pump at an abandoned gas station. Pic by Silvia B. Jakiello via shutterstock

Trevor Pott

Among other things, Active Directory needs an overhaul
Baby looks taken aback/shocked/affronted. Photo by Shutterstock

Kat Hall

Plans for 2 million FTTP connections in next four years 'not enough'
Microsoft CEO Satya Nadella


Suit-and-tie-wearing man tries to meditate, take deep breaths in faux yoga pose. Photo by Shutterstock
Emotional intelligence, not tech skills, is the way to woo suits
League of gentlemen poster - Tubbs and Edward at the local shop. Copyright BBC
One reselling man tells his tale of woe