Cisco Systems, Inc. (CSCO) reported fiscal Q1 of 2021 ending October 24, reporting declining revenue and earnings from a year earlier but beating Wall Street’s estimates. Revenues dropped 9% to $11.9 billion from a year earlier as corporate spending on network infrastructure reduced due to a shift in remote work during the pandemic. Earnings declined 9% to 76 cents a share from a year earlier.
Cisco expects revenue to drop in a range of zero to 2%, whereas the analysts had estimated that revenue would drop from 4% to $11.67 billion. Cisco has shifted its focus away from its core business of selling network switches and routers and aimed to increase revenue from software and services.
Cisco Systems, Inc. (CSCO) is a global technology leader that designs, manufactures, and sells Internet Protocol-based networking and other communications technology. To learn more about Cisco Systems, Inc. (CSCO) and to continue to track its progress please visit the Vista Partners Cisco Systems, Inc. Coverage Page
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