Cisco reorganization plan bears fruit in strong fiscal-Q1 earnings

11/10/2011 | Bloomberg ·

Robust demand for data-center switches, which are needed to power cloud expansion, helped propel Cisco Systems' fiscal-first-quarter profits above analysts' expectations, the company reported. Revenues increased 5% during the quarter compared with the same period in 2010. Experts say the results prove that CEO John Chambers' $1 billion cost-cutting plan -- which included the elimination of thousands of jobs and a refocusing on core products -- is working.

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