Cisco said that "for the first time in many quarters, our global customers are seeing some stabilisation, a leveling out in their business." Even so, the company posted a 17% year-on-year fall in revenues to 8.2 billion US dollars in the first quarter of 2009. The telecoms equipment maker also said that deferred revenue was 8.8 billion US dollars at the end of the quarter compared with 9.3 billion dollars at the end of the previous quarter.
Following a 24% fall in net income to 1.3 billion US dollars in the first quarter of 2009, Cisco said that it now has more than 33 billion US dollars in cash and investments. source: Cisco presentation