Cisco raised its full-year performance guidance, causing its stock price to rise by 5% after hours.

Cisco expects full-year revenue of $602 billion to $610 billion, up from the original forecast of $590 billion to $600 billion. The company also expects adjusted EPS for the full year to be $4.08 to $4.14, higher than the original forecast of $4 to $4.06. For the second quarter, Cisco forecasts revenue of $150 billion to $152 billion, while analysts expect $147.2 billion. The company also expects adjusted EPS for the second quarter to be $1.01 to $1.03, compared to analysts' expectation of $0.99. The company anticipates a gross margin rate of 67.5% to 68.5% for the second quarter, slightly lower than analysts' forecast of 68.2%. After-hours trading saw Cisco stock rise by 5%.