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The fourth-quarter results Cisco issued Wednesday were generally strong. Highlights included a 9 percent year-over-year growth in Cisco's U.S. enterprise business and 12 percent year-over-year growth in its U.S. commercial business. Overall revenue for the quarter was $12.4 billion, up 6.2 percent compared to the same quarter last year, and net income was $2.3 billion, up 18.4 percent year-over-year.
Cisco's Wireless and Data Center businesses particularly shone, with its Wireless segment growing 32 percent year-over-year, and its Data Center growing an even greater 43 percent year-over-year.
That said, Cisco saw some low points, as well. Growth in Cisco's five top emerging markets, for instance, grew a meager 1 percent year-over-year, while its NGN Routing and Security business segments were flat year-over-year.
Cisco partners told CRN Wednesday that they weren't worried about the layoffs, and that their Cisco businesses have been thriving. It's also not the first time solution providers have seen Cisco through a workforce reshuffle; the company has staged a series of layoffs over the past two years, including slashing 500 jobs just earlier this year, 1,300 jobs in July 2012 and a more drastic 6,500 jobs in July 2011.
When asked if he was surprised to see Cisco shares drop so sharply after market close on Wednesday, Chambers replied, "the real issue is where the stock is two weeks, four weeks and a quarter from now, and I feel good about that, by the way."
At press time, Cisco's shares had edged up a bit from yesterday's after-hours trading, down just over 7 percent at $24.51.