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Cisco Realizes Declining Revenue In Fiscal Q1 2021 But Beats Wall Street

By John F. Heerdink, Jr.

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

Vista Partners LLC (”Vista”) is a California Registered Investment Advisor based in San Francisco. Vista delivers timely and relevant insights via the website: www.vistapglobal.com with daily stories, weekly market updates, monthly macroeconomic newsletters, podcasts, & Vista’s proprietary equity and market research to help you stay informed and stay competitive. Vista’s mission is to invest partner capital while arming investors with a comprehensive global financial perspective across all market sectors. Vista also seeks to provide select issuers with actionable advice regarding fundamental development, corporate governance, and capital market directives.

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(Read Original Story: Cisco Stock Climbs As Earnings Top Estimates, Guidance Above Expectation in Investor's Business Daily)


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