Cisco beats analysts' expectations and finally sees its way out of an 8-quarter revenue decline streak

pulse

November 15, 2017 9:21 PM

The company saw $12.1 billion in revenues, and $0.61 earnings per share.

Cisco's stock shot up 4% in after-hours trading Wednesday after the company announced the end of its multi-quarter decline. The stock hung around $35.40 in after hours trading, after closing at $34.11.

The company posted a steady $12.136 billion in revenue for the first quarter of 2018, compared to the quarter before when Cisco saw $12.133 billion come in. While revenue is still down 2% from the year before, investors were assuaged by the promise of 1% to 3% year-over-year growth in the upcoming second quarter. If Cisco succeeds, the second quarter will finally break the company's 8-quarter decline streak.

Infrastructure saw $6.97 billion in revenues, down 4% from the same quarter last year. Applications — led primarily by products resulting from Cisco’s $3.7 billion acquisition of AppDynamics — were up 6% to $1.203 billion. Security products were up 8% to $585 million. Other products were down 16% to $296 million. Services — a particular focus moving forward for Cisco — were up 1% to $3.082 billion.

Here are Cisco's results: