Cisco Systems served up a 19 percent jump in quarterly revenue as a revived economy encouraged more spending on networks to route Internet traffic, but some investors had hoped for stronger proof of a technology sector recovery.

Shares of the company, which have gained 23 percent since hitting a year’s low at the end of August, slid 4 percent in after-hours trade.

Cisco Chief Executive John Chambers said in a statement the company saw capital spending “moderate” in some areas, but that the company was positioned for growth.

“The Street was expecting a bigger beat,” said Avian securities analyst Catharine Trebnick. “They’re not stellar results, they’re okay results. It shows they’re executing, but it also indicates there’s a mixed spending environment.”

“Things are back to normal, but it looks like they didn’t really kill the number, so there’s possibly some mixed signals regarding spending.”

Cisco said revenue in the fiscal first quarter ended Oct. 30, rose to $10.75 billion from $9.02 billion a year earlier. Analysts on average expected $10.74 billion, according to Thomson Reuters I/B/E/S.

Net profit rose to $1.9 billion, or 34 cents a share, from $1.8 billion, or 30 cents a share, a year earlier. Excluding items, earnings per share rose to 42 cents, beating Wall Street’s expectations by 2 cents.

Cisco’s customers, who cut back during the recession, have recently begun spending more on their network infrastructure, with phone companies buying more advanced equipment to handle growing smartphone traffic and corporate clients upgrading their data center equipment.

The pace of the recovery had been in doubt, particularly after Chambers spooked tech investors last quarter by citing ”unusual uncertainty” among customers.

Its shares fell 4 percent after-hours to $23.49. They had climbed since hitting a year’s low at the end of August, as the tech sector rallied on hopes of a recovery in spending.