Cisco Revenue Down Again
CBJ — Cisco Systems remains mired in a revenue slump with the latest decline marking a fifth straight quarterly drop.
Corporate clients are spending much less on network infrastructure products for offices with so many employees now working from home due to the global pandemic. It’s estimated many of those home jobs may continue once the pandemic is over, which would not be good news for companies such as Cisco.
Cisco sales fell 3% in the latest quarter while total revenue was down slightly to just under $12 billion compared with slightly more than $12 billion during the same quarter a year earlier.