Riverbed's Beat Is a Defeat for Cisco

(TheStreet) -- Riverbed's RVBD upside pre-announcement shows which way the spending is flowing in networking gear -- away from equipment shops like Cisco CSCO and Extreme Networks EXTR. Riverbed, which makes networking systems that squeeze higher performance out of old IT gear, released its preliminary first quarter results Tuesday, calling for adjusted earnings of 19 to 20 cents a share on about $163.5 million in sales. The numbers beat analysts' targets that called for 18 cents a share pro forma profit on $161 million in revenue. Continue reading the article.