New Delhi, Aug. 12 -- Cisco Systems shares advanced on Wednesday as the networking equipment giant prepared to release its fourth-quarter earnings after the market close, with investors focused on whether the company can maintain its run of earnings beats and deliver strong forward guidance.

Wall Street expects Cisco to report adjusted earnings of $1.17 per share on revenue of approximately $16.82 billion. That would represent a new quarterly revenue record, surpassing the $15.84 billion reported in the fiscal third quarter.

For the fourth quarter, Cisco's management previously forecast revenue between $16.7 billion and $16.9 billion, which would mark another quarterly high. The company projected non-GAAP earnings of $1.16 to $1.18 per ...