Shares of networking equipment vendor Riverbed Technology (RVBD) are up $1.78, or almost 8%, at $24.30 in late trading after the company reported Q3 revenue and earnings per share ahead of estimates.
Revenue in the three months ended in September, on a non-GAAP basis, rose 29%, year over year, to $190.6 million, yielding EPS of 24 cents, excluding some costs.
Analysts had been modeling $185 million and 21 cents.
CEO Jerry Kennelly said he was “very pleased” with the results, considering “the backdrop of an uncertain global economy.”
Riverbed will host a conference call with analysts at 4:30 pm, Eastern, and you can catch it here.
Update: The stock is now up $2.93, or 13%, at $25.45. The conference call is ongoing at this time.
Update 2: For the current quarter, the company sees non-GAAP revenue in a range of $198 million to $202 million, and EPS of 24 cents to 25 cents. That is better than the consensus $199 million and 23 cents.
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