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Cisco quarterly revenue, profit beat estimates, shares rise

Reuters 

(Reuters) - Cisco Systems Inc reported second-quarter revenue and profit above Wall Street estimates on Wednesday, as the network gear maker benefited from strong growth in its newer businesses such as application software and cyber security.Shares of the Dow component rose 3 percent in after-market trading after the company also boosted its share buyback program by $15 billion and raised its quarterly dividend. Cisco pivoted to software and cyber security to offset slowing demand for its routers and switches as companies increasingly shift to cloud services offered by Amazon.com Inc, ...

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First Published: Thu, February 14 2019. 03:11 IST
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