Riverbed Revenue Rises 6% YoY

Riverbed Technology reported GAAP revenue for Q3'14 was $276 million, compared to $262 million in the third quarter of 2013 (Q3’13), representing 6% year-over-year growth. GAAP net income for Q3'14 was $11.5 million, or $0.07 per diluted share, compared to GAAP net income of $3.8 million, or $0.02 per diluted share, in Q3'13.

“Our third quarter financial results were in-line with our revised guidance. While we are not satisfied with our top line performance, we are pleased to see steady growth in our SteelFusion and SteelCentral businesses,” said Jerry M. Kennelly, chairman and CEO. “Our ongoing focus to gain increased operating leverage is evident in our Q3 results, delivering earnings per share in-line with our expectations. We’ve started to execute our previously announced restructuring plans to drive further operational improvements and remain committed to delivering profitable growth and enhancing shareholder value,” continued Kennelly.

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