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MarketWatch First Take: Cisco as a service: Subscription focus helps stock turn around after earnings

Cisco Systems Inc. has been spending big on software to boost its reliable recurring revenue, but the networking giant said Wednesday that it hopes to upend its core business with a similar approach as well.

Cisco CSCO, +1.58% revealed a fifth consecutive quarter of declining revenue with its fiscal second-quarter report, though Chief Financial Officer Kelly Kramer pointed out in an interview with MarketWatch that the previous four quarters’ declines were affected by the divestiture of its set-top box business. Revenue declined year-over-year in Wednesday’s report even considering that change, though Cisco was able to slightly beat analysts’ estimates and announced an increased dividend.

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