Cisco Systems Inc., the world's largest maker of networking equipment, reported a quarterly profit that beat analysts' estimates, helped by growth in its software and services businesses. The San Jose, California-based company said it earned $3.4 billion, or 79 cents a share, in the fiscal first quarter, up from $2.6 billion, or 59 cents a share, a year earlier.

Revenue rose 6% to $13.1 billion from $12.2 billion. Analysts on average had expected earnings of 74 cents a share on revenue of $12.8 billion, according to Thomson Reuters I/B/E/S.

The results show signs that Cisco is starting to turn around its business after several years of declining sales. The company has been cutting costs and investing in new products and services in an effort to boost growth.

"We're starting to see some of the investments we've been making paying off," said Chuck Robbins, Cisco's chief executive officer. "Our software and services businesses are growing well, and we're gaining share in key markets."

Cisco's software and services revenue increased 10% to $4.6 billion in the fiscal first quarter. Product revenue rose 3% to $8.5 billion.

The company's largest business segment, switching and routing, grew 2% to $5.4 billion. Revenue from data center and virtualized networking products and services increased 3% to $2.7 billion.

Cisco's security business, which includes products and services to protect networks from cyber threats, grew 8% to $1.9 billion.

The company's emerging technologies business, which includes products and services for the Internet of Things (IoT), grew 28% to $664 million.

Cisco said it expects revenue to increase by 4% to 6% in the fiscal second quarter. The company also said it expects earnings per share to be between 80 cents and 82 cents in the fiscal second quarter.

Cisco's stock rose 3.5% in after-hours trading following the earnings report.