CISCO SYSTEMS REVENUE DECLINES FOR FIFTH STRAIGHT QUARTER

Cisco Systems Inc. on Tuesday reported a decline in revenue for a fifth straight quarter, as enterprise clients spent less on its network infrastructure products for offices due to the rise of remote working. The dour performance overshadowed a better-than-expected forecast for current-quarter revenue and sent the company's shares lower in extended trading. The stock had risen nearly eight per cent last week ahead of the results. Chief financial officer Richard Herren said on a call with analysts that the infrastructure platforms unit, whose sales fell three per cent in the quarter, took the biggest hit.