Cisco reports fourth straight quarter of declining revenue [CNBC]
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Revenue dropped 5% from a year earlier, a fourth straight quarter of declines. Cisco reported a fourth straight quarter of declining revenue even as results topped analysts' estimates. The stock slipped about 1% in extended trading. Here's how the company did in comparison with LSEG consensus: Cisco's revenue dropped 6% in the quarter ended Oct. 26, from $14.7 billion a year earlier, according to a statement . Net income fell to $2.71 billion, or 68 cents per share, from $3.64 billion, or 89 cents per share, in the same quarter a year ago. Networking revenue plunged 23% to $6.75 billion, slightly below the $6.8 billion consensus of analysts surveyed by StreetAccount. Security revenue doubled to $2.02 billion, topping the StreetAccount consensus of $1.93 billion. Cisco's revenue from collaboration was $1.09 billion, a bit below the $1.04 billion consensus estimate. Chuck Robbins, Cisco's CEO, said on a Wednesday conference call that orders from large-scale clients for arti
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