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Markets News

Cisco beats quarterly revenue estimates

Nov 12 (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 $11.93 billion in the quarter ended Oct.24, from $13.16 billion, a year ago. Analysts on average were expecting $11.85 billion, according to IBES data from Refinitiv. (Reporting by Chavi Mehta in Bengaluru; Editing by Shailesh Kuber)

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