Cisco jumps more than 8% on earnings beat and strong forecast

The company's revenue has now declined on an annualized basis four quarters in a row.Gerard Julien | AFP | Getty Images

shares moved as much as 9% higher in extended trading on Thursday after the company reported fiscal first-quarter earnings and an upbeat forecast that exceeded analysts' expectations.76 cents per share, adjusted, vs. 70 cents per share as expected by analysts, according to Refinitiv.With respect to guidance, Cisco said it sees 74 cents to 76 cents in adjusted per share and a 2% revenue decline to flat revenue in the fiscal second quarter.

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