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Investing.com – Cisco (NASDAQ:CSCO) forecast a recovery in revenue in the second quarter after reported on Thursday first-quarter results that beat Wall Street expectations as margins improved.
Cisco shares gained 8.34% in after-hours trade following the report.
Looking ahead, the company guided fiscal first-quarter EPS in the range of $0.74-to-$0.76, with revenue expected to decline within a range of 0-to-2%.
Cisco announced earnings per share of $0.76 on revenue of $11.93B. Analysts polled by Investing.com anticipated EPS of $0.7 on revenue of $11.85B.
Product revenue, which accounts for the bulk of overall revenue, fell 13% in the quarter year on year, while services added 2%.
Gross margin rose to 63.6% in the quarter from 64.3% in the prior quarter.
