The company had announced two rounds of layoffs this year in a bid to cut costs, as it shifts focus to cybersecurity, cloud systems and AI-driven products. Cisco completed its $28 billion acquisition of Splunk in March, which aims to boost its software ...

Cisco Systems Inc., the biggest maker of computer networking equipment, delivered better-than-expected quarterly results and an upbeat outlook for the current period, but a conservative annual forecast brought a muted reaction from investors.

Cisco Systems (CSCO) reported fiscal first-quarter earnings that exceeded analysts’ expectations and raised its full-year forecast, despite declining revenues. The networking-equipment provider reported first-quarter net income of $2.