Cisco Sees First Revenue Growth in Eight Quarters; Shares Up
- Networking gear maker sees growing software contribution
- Traditional hardware sales fell again in fiscal first quarter
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Cisco Systems Inc., whose hardware carries the majority of the world’s internet data traffic, forecast its first revenue gain in eight quarters, providing an early sign of success for the company’s transition toward services and software.
Revenue in the current period will climb as much as 3 percent from a year earlier, the San Jose, California-based company said Wednesday in a statement. That indicates sales as high as $11.9 billion, compared with an average analyst estimate of $11.7 billion, according to data compiled by Bloomberg.