Cisco reports fourth straight quarter of declining revenue

Core Insights - Cisco reported a fourth consecutive quarter of declining revenue, with results surpassing analysts' expectations, leading to a slight stock decline of about 1% in extended trading [1] - The company experienced a 6% revenue drop to $13.84 billion compared to $14.7 billion a year earlier, with net income falling to $2.71 billion from $3.64 billion [1] - Networking revenue decreased by 23% to $6.75 billion, while security revenue doubled to $2.02 billion, exceeding analyst expectations [2] - Cisco's CEO noted that orders for AI infrastructure from large clients exceeded $300 million in the quarter, with a target of $1 billion in AI orders for the fiscal year [3] - The company raised its full-year guidance for adjusted earnings per share to a range of $3.60 to $3.66, with projected revenue between $55.3 billion and $56.3 billion, indicating a potential revenue growth of 3.3% [4] - Cisco's stock has increased by 17% year-to-date, while the S&P 500 index has risen approximately 26% during the same period [5]