Cisco shares were flying higher in after-hours trading on Wednesday after the company revealed it has finally seen a revenue increase.
For the first quarter of 2018, Cisco posted a $12.136 billion revenue figure. Considering that in the quarter before Cisco’s revenue was $12.133 billion, this is finally an increase.
Revenue for the company is still down 2% from the year before, but if there will be a 1 to 3% year over year growth in the second quarter, it would mean that Cisco will finally have a revenue profit after 8-quarters of declines.
For the first quarter, Cisco also reported Earnings per share (adjusted) of $0.61. Wall Street had been expecting $0.60 per share.
Net income was $2.4 billion. This was a growth of 3% from the same quarter a year ago.
Disclaimer: We have no position in Cisco Systems, Inc. (NASDAQ: CSCO) and have not been compensated for this article.