Cisco for the win.

Cisco Systems Inc. (CSCO - Get Report) shares are climbing 3.55% in trading on Thursday, Aug. 16, after the company reported earnings of $0.70 per share on revenue of $12.84 billion. 

Analysts were expecting Cisco to report earnings of $0.69 per share on an adjusted basis, on revenue of $12.77 billion, according to FactSet. 

The company also guided for fiscal first-quarter earnings between $0.70 and $0.72 per share with a 5% increase in year-over-year revenue to $12.61 billion. For the October quarter, analysts expected Cisco to report earnings of $0.69 per share on revenue of $12.58 billion. 

Cisco has pinned much of its growth on its software and services business. The company purchased a subscription-based user authentication software and services platform for $2.35 billion recently, which helped Cisco's "Applications" revenue increase 19% year-over-year to $1.31 billion in the April quarter.

The company did see Applications revenue rise 6% year over year, but the $1.2 billion that segment took in failed to meet analysts' expectations of $1.4 billion.