Cisco (CSCO) reported its third quarter results after the market close on Wednesday. The company reported adjusted earnings of $0.88 per share, which was better than the estimated $0.82. Revenue of $12.70 billion was slightly better than estimates.

The tech giant also raised its full-year forecast. Cisco projects full-year revenue of $53.6 billion to $53.8 billion, compared to the prior guidance of $51.5 billion to $52.5 billion. It sees adjusted earnings per share of $3.69 to $3.71 versus the previous estimate of $3.68 to $3.74.

In the release, Cisco CFO Scott Herren says the company is seeing a "stabilization of demand" as "customers are consuming the equipment shipped over the last few quarters."

Yahoo Finance's Julie Hyman and Josh Lipton break down Cisco's Q3 results.

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This post was written by Stephanie Mikulich.