Cisco Systems is well-positioned to benefit from the Internet’s increased use of video, CEO John Chambers told CNBC.
“We’re balanced across all customer segments – service, enterprise, commercial, consumer,” Chambers told CNBC’s Jim Goldman in an exclusive interview. “We’re balanced across all the major geographies. We aren’t (just) a router company, a switch company, a security company, a data center company or a wireless company. We’re all of the above. So, we perhaps have the balance in the market working toward our favor.”
Earlier this month, Cisco Systems said third quarter sales increased 21% from the same period a year ago to $8.9 billion and GAAP net income rose 36% to 30 cents a share.
On Tuesday, Cisco Systems announced that it had completed the acquisition of WebEx Communications, a provider of equipment that allows companies to conduct conferences over the Internet and allows users to share Web-based documents. Last year, Cisco acquired Scientific-Atlanta, a maker of set-top boxes used by cable subscribers to receive TV programming and interactive online services including movies on demand.
“If you run your business on this quarter or this year – and I hope my competitors do (because then) I’ve got them – time will tell if our reasons for optimism are justified or maybe even conservative,” Chambers said.