Cisco posted quarterly results Wednesday that edged past Wall Street expectations and also raised its quarterly dividend.
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The company posted earnings of 47 cents a share excluding one-time items, on sales of $11.16 billion. Analysts expected the networking-equipment giant to post earnings of 46 cents a share on sales of $11.03 billion, according to a consensus estimate from Thomson Reuters.
The company also raised its quarterly dividend by 2 cents a share to 19 cents a share.
Meanwhile, Cisco said it expects to turn in current quarter earnings of between 47 cents a share and 49 cents a share, versus expectations for 48 cents a share. And the company forecasts sales to decline between 6 to 8 percent, against Wall Street estimates of down 7 percent.
Shares turned lower following the guidance update. (Click here for extended-hours quote.)