05:53 AM EDT, 05/16/2024 (MT Newswires) -- (Updates with the stock move in the headline and the first paragraph.)

Cisco Systems ( CSCO ) shares jumped 4.7% in premarket activity on Thursday after the company reported fiscal Q3 earnings and sales that beat market expectations while raising its full-year revenue guidance range.

The company reported fiscal Q3 non-GAAP earnings late Wednesday of $0.88 per diluted share, down from $1.00 a year earlier.

Analysts polled by Capital IQ expected $0.82.

Revenue for the quarter ended April 27 was $12.70 billion, down from $14.57 billion a year earlier. Analysts surveyed by Capital IQ expected $12.63 billion.

The company expects fiscal Q4 non-GAAP EPS between $0.84 and $0.86 and revenue ranging from $13.4 billion to $13.6 billion. Analysts polled by Capital IQ expect $0.84 and $13.54 billion, respectively.

The company now expects fiscal 2024 non-GAAP EPS of $3.69 to $3.71 and revenue between $53.6 billion and $53.8 billion. The previous guidance was for non-GAAP EPS between $3.68 to $3.74 and revenue between $51.5 billion and $52.5 billion.

Analysts surveyed by Capital IQ expect $3.64 and $53.54 billion.

The company maintained its quarterly dividend at $0.40 per share, payable July 24 to stockholders of record July 5.

Price: 52.12, Change: +2.45, Percent Change: +4.93