The company experienced a decline in activity in the second quarter.
The IT giant Cisco has just published its financial results with a decrease of 7% of its turnover, to 11.2 billion dollars for the second half of its fiscal year – which ended at the end of January – against 12.1 billion a year earlier over the same period, a decrease of 8%. Its quarterly net income stood at $ 1.4 billion, against $ 3.1 billion last year. “Our finances are strong and our strategy is solid. “Wanted to reassure John Chambers, the CEO.
Faced with this decline in activity, the group announced its intention to invest $ 100 million in the “Internet of things” to recover, citing a study according to which this market could generate $ 4.6 trillion in value at over the next decade in the public sector alone. The American will mainly carry out external growth operations which will consist of equity investments in start-up companies.
“The main transitions in the market are in networking centric and, as the Internet of Things becomes more important to businesses, cities, and countries, Cisco is uniquely positioned to help customers solve their biggest problems, ”explained Chambers.