Cisco Surges on Forecast of First Sales Growth in Eight Quarters
- Networking gear maker sees growing software contribution
- Traditional hardware sales fell again in fiscal first quarter
This article is for subscribers only.
Cisco Systems Inc., whose hardware carries the majority of the world’s internet data traffic, saw its shares rise the most in more than a year and a half after it forecast the first revenue gain in eight quarters
The outlook provides an early sign of success for the company’s transition toward services and software, sending the stock up as much as 7.5 percent in New York Thursday, the biggest increase since February 2016.