Net sales for the fourth quarter of the financial year were $5.72 billion, compared with $3.56 billion for the same period last year, an increase of 61%. The company benefited from strong sales to ISPs, cable and telephone companies.
President and CEO John Chambers said: "We were very pleased with the balance of our business across all key geographies, products, and lines of business."
He added:
"We see no indications in the marketplace that the radical internet business transformation in practices like customer service, supply-chain management, employee training, empowerment, and e-commerce that is taking place around the world today is slowing - in fact, we believe it is accelerating globally.”
Earlier this year, Cisco’s market capitalisation made it the world’s largest company, albeit briefly. It is now the second largest, at about $460 billion, behind General Electric, but ahead of Intel and Microsoft. Analysts have said that Cisco helps to define growth and valuation parameters for the industry sector. The results for Cisco are expected to have a favourable knock-on effect for high tech European stocks.