Networking giant Cisco beats expectations

Earnings per share were $1, compared to the 98 cents that analysts expected on average.

Revenue came in at $14.88 billion, compared to the expected $14.77 billion.

Sales increased by 8 percent compared to the corresponding period last year.

This is the fourth consecutive quarter of growth for Cisco, following four consecutive quarters of decline as the company struggled with economic uncertainty and delayed government orders.

Just over half an hour after the report was released, Cisco's stock had risen about 6 percent in after-hours trading on the New York Stock Exchange.