Cisco Earnings: Live Blog Recap

NEW YORK ( TheStreet) - Despite concerns that Cisco ( CSCO) would feel the same pressures that weighed on other Silicon Valley heavyweights this earnings season, the networking giant eased past Wall Street's estimates on Tuesday.

Cisco reported first-quarter revenue of $11.88 billion and earnings of 48 cents a share, up from $11.27 billion and 43 cents a share in the prior year's quarter. Analysts surveyed by Thomson Reuters were looking for sales of $11.77 billion and earnings of 46 cents a share.

Similar to its prior-quarter results, Cisco enjoyed strength in its U.S. enterprise business, which saw revenue grow 9% year-over-year. The company's U.S. service provider sales were also robust, increasing 13% compared to the prior year's quarter.

"We delivered record results this quarter -- with revenue growth of 6 percent and strong earnings per share growth -- demonstrating our vision and strategy are working," said Chambers in the company's press release. "Our innovation engine, operational discipline and on-going evolution are enabling us to differentiate in the market."

The tech bellwether also offered healthy guidance, predicting revenue between $11.9 billion and $12.1 billion and earnings of 47 to 48 cents a share. The current consensus view calls for revenue of $12.02 billion and earnings of 47 cents a share.

Investors relished the results, pushing Cisco's shares up 7.06% to $18.04 in extended trading on Tuesday.

Check out our live blog recap for more details of Cisco's second-quarter results.

-- Written by James Rogers in New York.

>To submit a news tip, send an email to: tips@thestreet.com.

If you liked this article you might like

Pret A Manger Takeover in the Works; Cisco's M&A Shackles Come Off - ICYMI

Market Signals Change of Direction: Cramer's 'Mad Money' Recap (Monday 9/18/17)

This Company Could Be a Fraud, Noted Short-Seller Andrew Left Says

John Chambers' Exit From Cisco Could Pave the Way for Big Moves

Chase Hires Amazon Customer-Service Exec as Digital's Rise Reshapes Branches