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Cisco: Q1 just above expectations.

(CercleFinance.com) - On Wednesday evening, Cisco Systems reported Q1 2017-18 adjusted net income that was down 2% at 3 billion dollars, representing EPS of 61 cents, one cent above the consensus.

The network equipment giant's revenues also slipped - down 2% to 12.1 billion dollars, but once again this was slightly above analysts' expectations, and with the share of recurrent revenues that is up three points over one year at 32%.

Aurel BGC said that Cisco is benefiting from strong growth in new businesses, such as security, the cloud and Internet of Things, which offsets the fall in network hardware sales, such as routers.

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