Cisco Rises in Premarket After Earnings Plunge Less Than Expected

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was up 2.5% to $18.35 in premarket Instinet action, a day after the company posted better than expected results for the fiscal first quarter.

After the close Monday, the networker reported quarterly earnings, excluding items, of 4 cents a share, topping Wall Street's estimates by 2 cents. The company reported revenue of $4.45 billion, also ahead of expectations. In the year-ago quarter, the company earned 18 cents on revenue of $6.5 billion.

Cisco declined to offer detailed financial guidance for coming periods, saying it would see slight sequential improvement in the second quarter, including a single-digit revenue gain.