Shares of Cisco gained 3 percent Thursday following better-than-expected quarterly results, driven by growth in Asia.
The company announced fiscal fourth quarter sales of $12 billion, beating Wall Street consensus estimates of $11.97 billion, according to Thomson Reuters. Earnings also beat, coming in at 57 cents per share versus consensus of 55 cents. The company's profit per share rose 6 percent and total sales were down 1 percent, year over year.
"I'm pleased with our performance today as well as the progress we're making in transitioning our business to a more software and subscription focus, which we'll continue to apply across our entire portfolio," CEO Chuck Robbins said in statement. "We delivered a strong third quarter, executing well despite the challenging environment."