Cisco’s revenue falls for seventh straight quarter

New Nokia 8 phone targets surging demand for video-streaming
August 16, 2017
Twitter shutters accounts of U.S. white supremacy website
August 16, 2017
This post was originally published on this site

(Reuters) – Cisco Systems Inc’s (CSCO.O) revenue fell for the seventh straight quarter as declines in its switches and routers businesses outpaced gains at its newer software-focused divisions, such as security.

The world’s largest networking gear maker said on Wednesday revenue fell nearly 4 percent to $12.13 billion in the fourth quarter ended July 29, compared with a year earlier.

Net income fell to $2.42 billion, or 48 cents per share, from $2.81 billion, or 56 cents per share.

Reporting by Laharee Chatterjee in Bengaluru; Editing by Savio D’Souza