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Cisco quarterly revenue tops market expectations

May 13 (Reuters) - Cisco Systems Inc topped Wall Street estimates for quarterly revenue on Wednesday, as lockdown measures globally boosted demand for its remote-work tools and networking equipment.

The network gear maker reported an 8% drop in third-quarter revenue to $12 billion, but narrowly beat analysts’ average estimate of $11.7 billion, according to Refinitiv data. (Reporting by Munsif Vengattil in Bengaluru; Editing by Arun Koyyur)

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