Cisco issued a financial statement, reporting second quarter net sales of $10.4 billion, with net income on a GAAP basis of $1.5 billion and non-GAAP net income of $2.1 billion.
“The quarter played out as we expected, ” CEO John Chambers said. “Our strategy of tightly integrating our multiple products through an architectural approach is working, and we are delivering innovation in each major product family. As a company, we are going through a period of transition as we move aggressively in the market with our architectural strategy. We have managed these market transitions many times, positioning Cisco and our customers for success. Simply put, we are owning our evolution and the next generation of industry leadership.”