(CNBC) Cisco’s revenue declined by about 13% year over year in the quarter, which ended on April 27, according to a statement. That’s the steepest slide since 2009. Net income fell 41% to $1.89 billion, or 46 cents per share, from $3.21 billion, or 78 cents per share, a year earlier. The weakening performance stems from clients setting up the equipment they received in recent quarters, according to the statement.
Cisco reports better-than-expected results even as revenue suffers steepest drop in 15 years
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