Global communication and networking company Cisco has released its Q2 financial results for the period ended January 25 2014.

The company recorded revenue of US$11.2bn for Q2 2014, which is down by 8% from $12.1bn in Q2 2013. The company’s net income was down by 54.5% in Q2 2014 to $1.4bn compared to $3.1bn in Q2 2013.

The company said its revenue for the first six months of fiscal 2014 was $23.2bn down from $24bn for the first six months of fiscal 2013.

Despite the decrease in revenue and net income Cisco saw a rise in its quarterly cash dividend to $0.19 per common share.

Total cash and cash equivalents and investments were $47.1bn for Q2 2014.

Cisco chairman and CEO John Chambers said the company delivered the result it expected for its Q2 2014.

"I'm pleased with the progress we've made managing through the technology transitions of cloud, mobile, security and video. Our financials are strong and our strategy is solid,” Chambers said.