Cisco (CSCO) Q2 Earnings Top Estimates, Revenues Down Y/Y

Cisco Systems (CSCO) reported second-quarter fiscal 2024 non-GAAP earnings of 87 cents per share, which beat the Zacks Consensus Estimate by 8.62%. The bottom line fell 1.1% year over year.Revenues decreased 6% year over year to $12.79 billion but beat the consensus mark by 2.59%. Product revenues (72.2% of total revenues) decreased 9.1% on a year-over-year basis to $9.23 billion.Revenues from enterprise, public sector, and service provider & cloud declined 6%, 5% and 40% year over year, respectively.Networ ...