High-tech stalwart Cisco Systems (CSCO) was one of the first major companies to report results for the fiscal quarter that ended in April. The results posted Wednesday afternoon are more reflective of the impact of Covid-19 than those in other recent earnings calls which only reflected results through March. And the results were grim: Cisco’s revenue for its fiscal third quarter fell 8% year-over-year to about $12 billion, its worst decline in six years. And yet, its per-share adjusted earnings of 79 cents on revenue of $11.98B easily beat analysts’ bleak target of 71 cents. The service and security segments …read more
Source:: Yahoo Finance
