Cisco says its net income rose 14 percent in the latest quarter, and says it is seeing “some good signs” in the U.S. and other markets.
Cisco’s latest quarterly report is providing further evidence that spending on technology gear is picking up despite persisting concerns about a still-shaky economy.
Belkin, a maker of smartphone cases and computing accessories, said Thursday that it is buying the home networking business unit of Cisco, including the Linksys router brand.
The bicyclist who died Saturday after crashing into a rock near Fremont was an engineer at Cisco Systems, the networking equipment company based in San Jose.
Cisco says it earned $1.9 billion, or 36 cents per share, in its fiscal fourth quarter, spanning May to July. That compares with income of $1.2 billion, or 22 cents per share, in the same period a year ago.
Cisco Systems was preparing to lay off about 1,300 workers just a few months after the world’s largest maker of computer networking equipment warned that growing economic uncertainty is making it tougher to close deals.
Cisco raised the specter of a sharp slowdown in technology spending late Wednesday, rattling investors already fretting about the economy’s fragile condition.
Hundreds of janitors who maintain offices at the largest Silicon Valley technology companies marched through Palo Alto Thursday to demand higher wages and better benefits.
Cisco, the world’s largest maker of computer networking equipment, says its net income jumped 44 percent in the latest quarter as it continues to put last year’s slump behind it.
Cisco Systems Inc. CEO John Chambers saw his pay package fall by nearly a third in the company’s fiscal year that ended in July, a period when the company’s shares dropped by about the same amount.