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What: Shares of networking specialist Riverbed Technology
So what: Revenue came in at $199 million with adjusted earnings per share of $0.26. The company also provided strong guidance for the third quarter, with sales expected between $214 million and $219 million. Third-quarter earnings should be $0.25 to $0.26 per share. Both forecasts for next quarter top analysts' best guesses.
Now what: Importantly, product revenue growth reaccelerated to 11%, up from 4% last quarter. Riverbed's expansion into other markets like network performance management and application delivery controllers is ramping up quickly. The Stingray business is growing faster than management expected, crossing the $20 million revenue threshold in three quarters. Riverbed also announced an important partnership with Juniper Networks
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