RESEARCH TRIANGLE PARK – Investors are driving up Cisco shares after the tech giant reported earnings Wednesday that topped analysts’ expectations and offered financial guidance that also beat the Street.

In other words, there’s likely going to be a “pop.”

Shares jumped nearly 7 percent to almost $47 a share in after-hours trading. A new 52-week high for the stock seems in the offing once markets open today.

Cisco (Nasdaq: CSCO), which operates one of its largest corporate campuses in RTP, reported:

  • $12.84 billion in revenue; analysts at FactSet expected $12.77 billion
  • Earnings of 70 cents per share; analysts had forecast 69 cents
  • Revenue guidance of $12.61 billion for the current quarter; analysts were expecting $12.58 billion
  • Earnings guidance between 70-72 cents a share; analysts had expected 69 cents

Revenue increased 6 percent year-over-year. For the entire year, Cisco said revenues climbed 3 percent.

The quarterly performance and rosy forecast added to CEO Chuck Robbins’ drive to pivot Cisco more toward software and services with less reliance on hardware.

“We had a very strong finish to a great year and generated our highest quarterly revenue of $12.8 billion,” Robbins, a UNC-CH graduate, said.

“Our results demonstrate a combination of strong customer adoption of our latest innovations, the ongoing value customers see in our software and subscription offerings, and excellent execution across our customer segments and geographies. Our strategy is working and we believe that are well-positioned to capture growth across our portfolio with our pipeline of innovation.”

In the quarter, product revenue climbed 7 percent while service revenues increased 3 percent.

“It was a quarter of broad-based growth among all regions and business sectors,” Cisco Chief Financial Officer Kelly Kramer told Barron’s in an interview. “But what it really showed is a shift in how we do business. These things take time. It is a challenge to shift a $50 billion business.”

In the earnings announcement, Kramer added: “Q4 was another quarter of broad-based strength across our portfolio reflecting our strong execution and momentum. We delivered record quarterly revenue, up 6%, and non-GAAP EPS, up 15%. We are seeing solid demand for our products and solutions while continuing to make progress in transforming our business model and driving long-term shareholder value.”