- Robbins reaffirmed his commitment to the company's software strategy.
- Cisco's stock was down 8 percent Thursday afternoon.
Despite a somewhat rocky outlook in the near term, Cisco is "focused on its transition to software," the company's chief executive, Chuck Robbins, told CNBC on Thursday.
Robbins reaffirmed his commitment to the company's strategy — which most recently resulted in the announcement Wednesday of 1,100 additional job cuts as part of an extended restructuring plan. The company cut over 5,000 jobs back in August, an estimated 7 percent of its workforce.
This comes after the company reported better-than-expected third-quarter earnings and revenues, but cut future guidance. The stock was down 8 percent Thursday afternoon.
Robbins said there were multiple reasons for the worse-than-expected guidance. "We saw a significant slowdown in the U.S. public sector, particularly the federal business — which is a pretty significant business for us — due to the uncertainty in budgets."
As Cisco's customers build out next-generation networks, things like integrated security on the system will be critical, he said.
"It's one quarter, and we are very focused on continuing this transition," said Robbins. "I think we're gonna be fine."