Reuters: Global Markets: Riverbed guides below estimates on federal spending worries

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Riverbed guides below estimates on federal spending worries Jul 30th 2013, 22:46 Tue Jul 30, 2013 4:30pm EDT (Reuters) - Network equipment maker Riverbed Technology Inc's (RVBD.O) revenue growth failed to match up to analysts' heightened expectations after strong results from rivals Juniper Networks Inc (JNPR.N) and F5 Networks Inc (FFIV.O). Riverbed shares fell 12 percent in post-market trading after the company posted a smaller-than-expected 26 percent growth in second-quarter revenue to $250 million. The company's net loss was $16.5 million, or 10 cents per share, compared with net income of $18 million, or 11 cents per share, a year earlier. Excluding items, Riverbed earned 22 cents per share. Analysts expected earnings of 22 cents per share on revenue of about $257.7 million, according to Thomson Reuters I/B/E/S. Rivals Juniper Networks Inc (JNPR.N) and F5 Networks Inc (FFIV.O) forecast current-quarter above estimates earlier this month, helped by a recovery in spending by telecom service providers. Riverbed, whose products can boost data speeds by up to 100 times, is a leader in the wide-area network optimization business.

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