Cisco CEO hails Middle East
Chambers highlights rapid growth in the Middle East as technology bellwether posts record quarterly revenues.
Cisco boss John Chambers has praised the performance of the networking vendor's Middle East operation following the release of the company's recent quarterly results.
Chambers made a point of highlighting "very strong order growth" in the MEA region as a contributing factor to the networking vendor's impressive set of fiscal third quarter results. Cisco reported a US$1.9 billion net profit on sales up 21% year-on-year to US$8.9 billion for the three months to the end of April.
"We saw very strong order growth from the Emerging Markets theatre of approximately 40% year-over-year, with Eastern Europe leading the way with growth above 50% followed by the Middle East and Africa operations with growth in the mid-40s," said Chambers.
He also pointed to the expanding role of Cisco's service provider customers as another "key takeaway" of the quarter, which resulted in the vendor hitting record revenues.
"Our technology and business architecture strategy is moving Cisco from a tactical or strategic partner for our service providers to a strategic business partner relationship in many of our accounts," he explained.
Cisco, which recently split its Gulf operations into three key territories, revealed last year that its Gulf unit achieved 50% growth in fiscal year 2006, marking it out as the company's third fastest-growing region in the world.