Riverbed Technology, Inc. (RVBD) Reports Better Than Expected Second Quarter Results
Riverbed Technology, Inc. (RVBD), a leading provider of wide-area data services (WDS) to companies that utilize wide-area networks (WAN), reported better than expected second quarter results yesterday after the close. Revenues increased 51% year-over-year to $81.6 million vs. analysts’ estimates of $77.0 million. The bottom line swung to a loss of $869,000 vs. last year’s profit of $3.9 million. Excluding items, non-GAAP EPS was 13 cents vs. analysts’ consensus of 11 cents per share. “We are encouraged by our strong sequential and year-over-year revenue growth, as we posted the highest revenues in company history,” said Jerry M. Kennelly, Riverbed president…