Cisco Beats Estimates As Data Center Business Booms
Cisco, which had been expected to report less-than-stellar fiscal third quarter numbers, instead threw Wall Street a curveball by beating analysts' expectations.
Profit was up 18 percent and revenue rose 6 percent year-over-year, and CEO John Chambers (pictured) pointed to the rise of Cisco UCS in the data center as a main force driving the company's growth.
Emboldened by the strong results, Chambers didn't waste an opportunity to trot out one of his favorite talking points. "You can give us grief for a lot of things," he told analysts on Cisco's earnings call. "But we do not miss market transitions."