Cisco forecast raise allays tech spending fears, lifts shares

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Reuters UK

By Yuvraj Malik (Reuters) -Cisco Systems Inc on Wednesday raised its full-year earnings forecast and delivered strong second-quarter results, indicating that spending on network infrastructure was staying resilient in the face of an economic slowdown. The maker of routers and other products that run computer networks and the internet said customers were keeping investments steady in systems related to cloud, artificial intelligence and tools for hybrid work. The company is also benefiting from the easing of pandemic-driven supply chain constraints, which plagued its business last year and resu…

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