Cisco sales exceed Street despite competition fears

By @ibtimes on

Network equipment maker Cisco Systems Inc's quarterly sales beat expectations, despite concerns about increasing competition and budget cuts among its debt-burdened clients in the public sector.

Cisco said its fiscal second-quarter revenue rose 6 percent from a year earlier to $10.41 billion. Analysts had expected $10.23 billion in quarterly revenue, according to Thomson Reuters I/B/E/S.

(Reporting by Ritsuko Ando; Editing by Richard Chang)

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