Networking giant Cisco Systems reported its first quarter with CEO Chuck Robbins at the helm, since the retirement of long-time CEO John Chambers. And while the stock has been stalled recently, Jim Cramer thinks that the company is moving in the right direction.
"After looking over Cisco's results today, it seems that the company's strategy is working, and Chuck Robbins is clearly able to execute, delivering a strong quarter right out of the gate," the "Mad Money" host said.
Cisco reported a 3-cent earnings beat from a 56-cent basis, with higher-than-expected revenues and strong guidance for the next quarter. The company continues to move into high-growth areas such as cybersecurity and the Internet of things, while removing itself from low-margin businesses such as their set-top-box division, which it sold for about $600 million in July.
To find out what could be in the pipeline for Cisco, Cramer spoke with Robbins.