The networking-equipment company results were hurt by $665 million in restructuring and other charges, but still beat analyst estimates, boosted by investments to support artificial intelligence.

Cisco Systems Inc., the biggest maker of computer networking equipment, gave a strong revenue forecast for the current period, signaling an uptick in corporate spending on computer infrastructure.

Cisco Systems reported fiscal first-quarter earnings that exceeded analysts’ expectations and raised its full-year forecast, despite declining revenues.

Cisco reported a fourth straight quarter of declining revenue even as results topped analysts' estimates. The stock slipped 1% in extended trading. Here's how the company did in comparison with LSEG consensus: