Shares ofCisco Systems, Inc. (NASDAQ:CSCO) rose sharply in today's pre-market trading after the company reported stronger-than-expected financial results for its third quarter on Wednesday.

Cisco's third-quarter revenue decreased 13% year-over-year to $12.7 billion, which beat the consensus estimate of $12.531 billion, according to Benzinga Pro. The company reported quarterly earnings of 88 cents per share, which beat analyst estimates of 82 cents per share.

The company said it sees FY24 adjusted earnings of $3.69 to $3.71 per share, on revenue of $53.6 billion to $53.8 billion. C

Cisco shares jumped 4.6% to $51.93 in the pre-market trading session.

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