It gave the company a net income of $2.9bn, up three per cent from Q3 last year which had one less week, with Robbins attributing the rise to an increase in "hybrid work, digital transformation, cloud and continued strong uptake of our subscription-based offerings". But despite Robbins' positive outlook, Cisco's share price fell after the results emerged due to its earnings guidance falling behind Wall Street estimates. "We had impressive momentum in Q3, which gives me a great sense of optimism going forward," Robbins said. "These results reflect a return to a strong spending environment and an economic recovery that has gained momentum driven by vaccine rollouts and the easing of restrictions."