Cisco Stocks Jump on Strong Earnings Report

Cisco Systems (NASDAQ:CSCO) shares rose 2.9% after the company announced better-than-expected earnings.

The stock traded as high as $124.45 and last traded at $123.88, with approximately 32.17 million shares changing hands, a 37% increase from the average session volume of 23.44 million shares.

Cisco's quarterly revenue of $17.25 billion beat analysts' estimates of $16.82 billion, while earnings per share came in at $1.22, surpassing expectations of $1.17.