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Cisco Systems (CSCO) shares surged more than 13%, despite layoffs, after the company posted record quarterly revenue and revealed a bold restructuring plan designed to reallocate resources toward artificial intelligence and other high-growth areas.
The networking giant is a company pivoting from a position of strength, and the numbers back that up. If you have been sitting on the fence about Cisco stock, this earnings report gives you a concrete reason to pay attention.
