Cisco revenue falls as telecom customers spend less
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The Cisco Systems logo is seen as part of a display at the Microsoft Ignite technology conference in Chicago, Illinois, May 4, 2015.
Reuters/Jim Young/File Photo
Network equipment maker Cisco Systems Inc reported an about 1.1 percent fall in quarterly revenue, hurt by lower spending by telecom carriers.
The company’s net profit fell to $2.35 billion, or 46 cents per share, in the third quarter ended April 30, from $2.44 billion, or 47 cents per share, a year earlier.
Revenue fell to $12.00 billion from $12.14 billion.
(Reporting by Rishika Sadam in Bengaluru; Editing by Saumyadeb Chakrabarty)