Cisco Back On Track After Profit Rises 56 Percent In Q4
Cisco wrapped up its fiscal 2012 year by reporting $8 billion in profit, up 24 percent from last year, in what amounted to a powerful sign that the networking giant's recent struggles are behind it.
Although Cisco lost out in its bid to acquire network virtualization startup Nicira, CEO John Chambers pointed out that Cisco is well-established in the space. "We saw virtualization coming early," Chambers said on the company's earnings call.
"We think the future is going to be hardware and software combined," said Chambers. "Our goal is to lead this evolution along with our partners."