SAN JOSE, Calif.( TheStreet) -- Cisco (CSCO - Get Report) reports its third-quarter results after markets close on Wednesday with all signs pointing to another chapter in the networking giant's turnaround tale.
This time last year, Cisco was on the ropes. Pummeled by poor execution, weak consumer spending and intense competition, Cisco CEO John Chambers implemented a massive corporate overhaul in an attempt to build a leaner and more focused company.
|Cisco, led by John Chambers, reports third-quarter results after market close.|
After enduring a turbulent 2011, Cisco is now reaping the benefits of its revamp. The San Jose, Calif.-based company put out strong second-quarter results in February, announcing that it hit the $1 billion target for its expense-reduction plan a quarter early.
Rob Lloyd, Cisco's vice president of worldwide operations, recently told TheStreet that the company has completed its turnaround and is now increasing the pressure on its competitors.Set against this backdrop, analysts are expecting good things from the company's third quarter, particularly after underwhelming numbers from rivals Juniper (JNPR - Get Report) and Alcatel-Lucent (ALU - Get Report). "Anticipate