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Cisco CEO Robbins: 'The Strategy We Laid Out Three Years Ago Is Working'

Cisco CEO Chuck Robbins touted growth in key business units, including applications and security, and discussed the success of its Catalyst 9000 series of switches.

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Great Expectations

Cisco Systems Chairman and CEO Chuck Robbins drew a bold line under the company's third quarter results Thursday, telling CNBC anchor Jim Cramer that the company has just begun its journey toward a predominantly software-based recurring revenue business model and that he expects to report record earnings for the fourth quarter.

In the Thursday television appearance, Robbins touted the growth in key business units, including applications and security, and discussed the success of its Catalyst 9000 series of switches, which he called the fastest-ramping product in the company's history.

The 68- to 70 cents-a-share guidance the company issued for non-GAAP Q4 earnings per share also represents a record for the company, Robbins said.

The company has high expectations now that its vision for itself as a software- and applications-focused firm that covers a wide swath of the market for next-generation networking and security solutions seems to have taken hold among customers.

Cisco Wednesday reported a third-quarter, non-GAAP profit of $3.2 billion on total revenue of $12.5 billion.

Here are a few of the key points Robbins made during the interview with Cramer this morning.

 
 

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