Over six years ago, I was asked to build and lead a Cisco team to incubate new emerging technologies that can generate $1 billion worth of revenue and enable Cisco to capture key market transitions, driving the network as a platform. Together, this entrepreneurial team investigated market trends and customer needs and quickly realized that video and more specifically video communications was going to be a game changer and transform forever the way people communicate and collaborate. I like to say: words convey meaning; a picture says a thousand words; but video says it all.
That was the start of a vision and idea called telepresence. It’s about delivering a video experience so intuitive, so lifelike and natural that it recreates an in-person experience. Today, TelePresence is a well established market category, in a multi-billion dollar market where Cisco owns over 50% market share. I feel honored and privileged to have been part of this journey with the Cisco team. We have accomplished a lot to be proud of and there is much more to dream and innovate.
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Tags: Cisco, Cisco TelePresence, marthin de beer, TelePresence, telepresence market share, video, video communication, virtual launch event
Today, we reported our first quarter results for the period ended October 30, 2010. We reported first quarter net sales of $10.75 billion, net income on a generally accepted accounting principles (GAAP) basis of $1.9 billion or $0.34 per share, and non-GAAP net income of $2.4 billion or $0.42 per share. Q1 was a solid quarter for Cisco from a financial, product, customer and geographic perspective. We continue to execute well with a compelling financial position, expanding innovation engine and execution in both our core markets and market adjacencies.
Cisco Chairman and CEO John Chambers commented:
“Cisco delivered solid financial results, during a challenging economic environment. While we have seen capital spending moderate in some areas of our business, our execution in the areas we can control and influence speak to the success and relevance of the company’s strategy. Our position in the market, including continued product innovation, market share momentum and operational excellence, positions us for growth and flexibility well into the future as we strengthen our role as a trusted business partner to our customers.”
Earlier this week, we released our key technology and customer highlights for the quarter, including acquisitions and new products.
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Tags: earnings, financials, john chambers, marthin de beer, q1fy11