Cisco has hailed its first quarter of FY15 as its best yet for revenue as it boasted about its success in the European market.
For the three months to 25 October, net profit at the networking giant slumped 8.4 per cent annually to $1.8bn (£1.14bn) on sales over the same period which crept up 1.3 per cent to $12.2bn.
The firm claimed the "solid" three months were its strongest ever for sales despite it having to operating in a "very tough environment". It says its three-year transformation plan was paying off as it ditches shifting boxes for selling solutions instead.
Its Americas business unit performed best in Q1, growing three per cent annually, while its APCJ business slumped five per cent over the same period.
Its EMEA branch was up two per cent, which on an earnings call transcribed by Seeking Alpha, Cisco's chief executive John Chambers said was great news.
"We saw some stabilisation in the emerging countries within EMEA," he said. "Based on the role we play in the digitisation of countries and companies including our ability to bring innovation in job creation, we're more positive on the future business in Europe than perhaps some of our peers are."
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