It was the second quarter in a row of record quarterly revenue. Net income was $2.2 billion, or $0.40 per share, up from $1.81 billion in the same quarter last year.

Facing economic uncertainty, Cisco officials have pledged to streamline costs in an effort to improve margins, so that profit will increase faster than sales.

"We are successfully executing against our long-term strategic plan of growing profit faster than revenue, and in a cautious IT spending environment, we continue to outperform our competitors," said John Chambers, Cisco chairman and CEO, in the company's earnings release.

"In a world of clouds, video and mobile device proliferations, the role of the intelligent network has never been greater and our value proposition with our customers is the strongest it has ever been," Chambers said.

Chambers said in a conference call after the release that Cisco's products are either number one or two in their respective market segments. The company's Unified Computing and Services segment grew more than 50 percent year-over-year, Chambers noted, stressing that competitor's services business stayed flat for the most part.