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Cisco Systems Inc. exceeded expectations with its latest quarterly results, calling out demand related to artificial intelligence but also disclosing a restructuring program.
The software and networking company on Wednesday posted fiscal fourth-quarter net income of $2.2 billion, or 54 cents a share, down from $4.0 billion, or 97 cents a share, in the year-earlier period. On an adjusted basis, Cisco
CSCO earned 87 cents a share, above the 85 cents that analysts tracked by FactSet were modeling.
