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Cisco Surpasses Estimates As It Finally Gets Some AI Action Despite Steepest Revenue Drop Since 2009

Benzinga ·  May 20 09:45

On Wednesday, Cisco Systems Inc (NASDAQ:CSCO) reported its fiscal third quarter results and both its top and bottom-line surpassed Wall Street's estimates. However, this does not change the fact that revenue suffered its steepest decline in 15 years. Like in its previous quarterly report, Cisco attributed the sales softness by consumers setting up the equipment they received during earlier quarters, stating that it expects such installations to be mostly done by the end of the fiscal year. Despite the revenue decline, its stock still went up 8% during extended trading.

Fiscal Third Quarter Highlights

For the quarter ended on...

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