Riverbed 2013 Revenue Top $1 Billion
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Riverbed reported its fourth quarter and full year fiscal 2013 earnings late Thursday. For the quarter, revenue came in at $283 million, a 19 percent gain compared to the fourth quarter of 2012. Riverbed reported total revenue of $1 billion, a 26 percent year-over-year gain. Looking forward, Riverbed provided guidance for first quarter fiscal 2014 revenue to be in the range of $262 million to $268 million, which would represent a year-over-year gain of between four and six percent.
"12 months ago, we were an $800 million company, with 1,800 employees, and 85 percent of our revenue coming from a single product," Jerry Kennelly, co-founder and CEO of Riverbed, said during his company's earnings call. "Now, a relatively short time later, we are a billion-dollar-plus company with 2,600 employees, 25,000 customers and a diversified revenue stream."
Riverbed has made a concerted push in recent months to be a full-fledged application performance management vendor.