Riverbed Technology Jumps 28% after Strong Q2
Shares of Riverbed Technology (NASDAQ: RVBD) were seeing increased strength during Wednesday's trading session after the company reported second-quarter earnings on Tuesday, which exceeded analysts' estimates.
During Tuesday's after-hours trading session, Riverbed Technology reported second-quarter EPS of $0.23 versus the estimated $0.21 per share, beating by +9.5%. Revenues came in at $199M versus the estimated $194.46M, beating by +2.3%.
“We executed well in the second quarter, driving stronger sales of our new Steelhead and Cascade platforms, demonstrating continued demand for performance-improvement technologies,” said Jerry M. Kennelly, Riverbed president and CEO.
“Revenue grew across all major geographies and revenue growth accelerated across our core product offerings. Looking forward, we believe our expanded product offerings and partnerships will further extend our reach to new customers and market segments.”
Wednesday, shares of Riverbed Tech traded up over 27 percent, at about $18.55 per share.
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