The network specialist Cisco, despite a decline in sales in the third fiscal quarter, has expressed positive expectations for the current quarter, which sparked hopes of a recovery in IT spending at the stock exchange. The stock responded with an increase of 4.55 percent in pre-market trading on NASDAQ, reaching a price of 51.93 US dollars.

For the current quarter, Cisco forecasts revenue between $13.4 and $13.6 billion, which meets market expectations of an average of $13.5 billion. The company also slightly exceeded expectations for earnings per share, indicating robust demand and successful corporate strategies.

Corporate CEO Chuck Robbins continues to lead Cisco's transformation by expanding the hardware-focused network business to include software and services. This strategic move is intended to help Cisco remain competitive in an evolving technological environment.

In the recently concluded quarter, which ended at the end of April, Cisco had to report a revenue decline of 13 percent to $12.7 billion. The profit dropped year over year from $3.2 billion to about $1.9 billion. Despite the decline, the company's strategic realignment appears to be bearing its first fruits, as reflected in the positive forecast for the coming quarter.