Riverbed Technology Down 26.5% on Cautious Q2 Guidance

Riverbed Technology

is trading lower on the session following its Q1 earnings and Q2 guidance announcements yesterday. The company reported an EPS of $0.20 vs $0.20 estimate and revenues $182.4 million vs $186.49 million estimate. Riverbed guided its Q2 EPS of $0.21-0.22 vs $0.24 estimate and revenue of $193-197 million vs $202.2 million estimate. Jerry M. Kennelly, Riverbed president and CEO. “In a seasonally difficult quarter, we completed a major product cycle and achieved results within our guidance range. Looking ahead, we expect our new Steelhead, Granite, and Cascade products, along with Stingray and Whitewater, to form the basis for Riverbed's next leg of growth as we continue to execute on our vision to deliver a complete performance platform. Our competitive position is strong, our addressable market is growing, and we are optimistic about the opportunity before us.” Riverbed Technology is currently trading at $20.47, a gain of $7.39 or 26.53%. The stock is down 12% year-to-date.