PREVIEW-Riverbed Technology Q2 likely to impress Wall Street
* What: Q2 results
* When: Thursday, July 23
* Q2 expected to beat market expectations
By Shrutika Verma
BANGALORE, July 22 (Reuters) - Chief information officers around the world fancy Riverbed Technology Inc's RVBD.O products a lot.
The company's hardware and software help businesses access data over wide area networks (WAN) through the Internet without requiring to upgrade bandwidth, thus enabling overall IT cost reduction.
Investors fancy the stock as well. Shares of the company have more than doubled this year. Which is why when the company reports quarterly results this Thursday, investors and analysts will be expecting it to top Wall Street expectations.
What's more, analysts are not just betting on the company's second-quarter results but also hold high expectations for the third-quarter outlook.
The fact that the WAN optimization market declined at a much smaller clip than the overall networking industry in the first quarter of 2009 supports the view that the technology is a "must-have," Piper Jaffray analyst Troy Jensen said in a note dated July 6. Continuación...