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Cisco raises profits 18 per cent

Greg Lockley
Cisco raises profits 18 per cent

The world's largest maker of networking equipment has raised its profits by increasing sales and implementing cost-cutting measures.

Net profits for the firm rose by 18 per cent when compared with the three months prior to October 27th, sitting at just over $2.1bn.

Amidst the profits however, Cisco has warned that whilst it has witnessed signs of improvement within the US market, the European market remains uncertain.

Suffering from both diminished demand and increased competition from other players in the space, Cisco has worked to reduce its operating costs in order to maintain its profitability.

Additionally, it has launched a restructuring programme, which aims to cut the firm's expenses by around $1bn.

These new moves reflect the firm's cost-cutting measure it rolled out earlier this year, as Cisco cut two per cent of its total work force, resulting in 1,300 job losses.

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Tags: Cisco, market, profits, us, european, net, cost cutting, job losses

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