. >> for the quarter, scisco earnd better than expected 59 cents a share. among the highlights of the quarter, a 21% increase in deferred revenue and strength in it's growing security business. a business that will be a focus going forward as clients are adopting to the firm's subscription based model. as robin sells assets to accelerate the firm's transformation the firm is on the look out for acquisitions to drive the new strat swri. geographically the americans were the drivers. revenue off 7% offsetting flat results from asia pacific and europe. when asked about the emerging markets he says brazil and russia remain tough but in china the firm had the best results in a few quarters with india and mexico being bright spots. for the current quarter, cisco is forecasting earnings of 55 to 57 cents a share. it's forecasted to grow in line with expectations. back to you. >> let's talk more about tech with andrew berkeley who is still with us. i want to talk about this new versus tech debate because the new tech names if you will, social media, momentum stocks