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Riverbed up after good channel, Europe results

Riverbed Technology's Q1 showed sales up 8% yr/yr, driven by good channel and European performance. The network optimisation and app performance company showed total GAAP revenue for Q114 was $265m up 8% compared to the first quarter of 2013, as data centres look for maximum performance.

Riverbed Technology's Q1 showed sales up 8% yr/yr, driven by good channel and European performance. The network optimisation and app performance company showed total GAAP revenue for Q114 was $265m up 8% compared to the first quarter of 2013, as data centres look for maximum performance.

“Our first quarter results are a strong proof point supporting our strategy to bring value to our customers by optimizing the delivery of applications and data on a global scale and to deliver profitable returns to our shareholders,” says Jerry M. Kennelly, chairman and CEO. “Year-over-year revenue growth was led by WAN optimization and strength in enterprise and international sales. We are also very encouraged by our performance management business with increasing revenue from channel partners and significant growth in Europe.”

“As customers increasingly adopt the full breadth of our Application Performance Platform, we expect to achieve higher than industry growth across all of our product lines and deliver non-GAAP earnings per share growth that exceeds revenue growth. In a world where nearly every business runs on applications, Riverbed improves business performance by improving application performance. We see tremendous opportunity ahead of us.”