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Cisco beats quarterly revenue estimates

Cisco beats quarterly revenue estimates

FILE PHOTO: The Cisco Systems logo is seen as part of a display at the Microsoft Ignite technology conference in Chicago, Illinois, U.S., May 4, 2015. REUTERS/Jim Young/File Photo

REUTERS: Cisco Systems Inc on Thursday reported smaller-than-expected drop in first-quarter revenue as more people working from home during the COVID-19 pandemic drove demand for its teleconferencing tools, networking equipment and cybersecurity products.

The company's revenue fell to US$11.93 billion in the quarter ended Oct.24, from US$13.16 billion, a year ago. Analysts on average were expecting US$11.85 billion, according to IBES data from Refinitiv.

(Reporting by Chavi Mehta in Bengaluru; Editing by Shailesh Kuber)

Source: Reuters

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