Cisco (CSCO) - Get Report shares were showing volatility after hours Wednesday despite the company reporting a slim earnings beat while also topping analysts’ revenue estimates in the fiscal second quarter.
Cisco reported earnings of 77 cents per share on revenue of $12 billion. Analysts were expecting the company to report earnings of 76 cents per share on revenue of $11.98 billion.
At last check, shares were down 1.1% to $49.40 in after-hours trading on Wednesday after rising 1.6% during the day's trading.
For the fiscal third quarter, the company expects earnings between 79 cents and 81 cents per share, in line with analyst estimates of 80 cents per share. However, the company expects revenue for the period to decline between 1.5% and 3.5% year over year. Analysts are expecting revenue of $12.62 billion for the quarter.
"I am confident in our long-term growth opportunities as we help our customers build out the networks for the future,” said CEO Chuck Robbins in a statement.
The company also announced that it is declaring a quarterly cash dividend of 36 cents per share, a 3% increase over the previous quarter’s dividend. The dividend will be paid April 22 to shareholders of record on April 3.
"We executed well this quarter by delivering strong margins and EPS growth while driving more software and subscriptions," said CFO Kelly Kramer. “Our increased dividend shows confidence in the strength of our ongoing cash flows and demonstrates our commitment to shareholder return."
Cisco shares have rebounded from a 12-month December low below $44 per share to trade near $50 per share on Wednesday.