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.

The company now expects annual revenue to be between $55.3 billion and $56.3 billion, compared with its earlier forecast of between $55.0 billion to $56.2 billion. Revenue fell 6% to $13.84 billion for the first quarter ended Oct. 26, compared with estimates of $13.77 billion.

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.

Cisco Systems Inc. reported solid fiscal first-quarter financial results that came in ahead of expectations and raised its 2025 full-year revenue outlook, but it couldn’t prevent a fourth successive quarter of declining revenue,