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Cisco Gives Bullish Outlook, Boosts Buyback by $25 Billion

  • Revenue rose for first time in eight quarters to $11.9 billion
  • Tax-related charge led to quarterly net loss of $1.78 a share
Bloomberg business news

Cisco CEO Robbins on $25B Buyback, Tax Reform

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Cisco Systems Inc., which makes machinery that carries most of the world’s internet data, gave a bullish forecast for sales and profit, indicating companies are spending to upgrade their computer infrastructure.

Chief Executive Officer Chuck Robbins is trying to reshape Cisco, lowering its reliance on the shrinking market for high-priced hardware through acquisitions that boost its ability to offer software and services that help customers manage and protect networks. New products that are better suited to the changing needs of customers, plus a stronger economy, are boosting orders, Robbins said in an interview.