Cisco Systems delivered quarterly earnings and revenue that surpassed analysts' expectations on Wednesday and posted a smaller-than-expected decline in sales during the quarter.
The technology company also said that it will cut some 6,000 jobs, or about 8 percent of its workforce.
Cisco said it expects adjusted earnings for the current quarter to come in between 51 cents and 53 cents per share, versus analysts expectations of 53 cents per share.
The company forecast sales for the current quarter to come in between flat and up 1 percent, while Wall Street is expecting fiscal first-quarter revenue to come in flat at $12.08 billion, according to analyst polled by Thompson Reuters.
Shares fell more than 2 percent in after-hours trading when officials delivered the guidance, paring earlier gains.
The company posted fiscal fourth-quarter earnings of 55 cents per share, up from 52 cents a share in the year-earlier period, while revenue decreased to $12.36 billion from $12.42 billion.
Analysts had expected the company's earnings to rise 1 percent, year over year, to 53 cents a share, while revenue was expected to fall 2 percent, year over year, to $12.14 billion, according to a consensus estimate from Thomson Reuters.