In its fiscal third-quarter, Cisco was able to beat analysts' expectations, earnings 51 cents a share on $11.5 billion, as the company saw strength in the U.S. and in Europe, with CEO John Chambers noting there was "some stability in the north," and, "Even some stability in the south -- I think that they are out of this downturn, slowly improving." Gross margins in the third quarter were 62.7%, ahead of the company's forecast of range between 61% and 62%.
Analysts surveyed by Thomson Reuters were looking for earnings of 48 cents a share on $11.36 billion.
Going into the report, analysts were slightly bullish on the company's prospects. Here's what a few of them had to say: