News that veteran Cisco (CSCO) chief John Chambers will step down this summer threatened to overshadow its robust third-quarter results. The US-listed systems specialist posted good growth in its key routing and switching businesses. That fuelled an 18 per cent rise in nine-month operating income to $7.89bn (£5bn).
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New offerings drove sales of Cisco's services and products up 4 and 5 per cent respectively. Management highlighted strong order growth in enterprise, public and commercial markets, but bemoaned weakness in carrier spending and tepid trading in China, Russia and other emerging markets.