Cloud Computing Firm Riverbed Technology Posts Higher Than Expected Quarterly Profits

A report by the Deutsche Bank has confirmed a positive quarterly result for Riverbed Technology.

The report stated, “We maintain our neutral outlook on Riverbed, given our checks suggesting relatively early stages of ramp for their Cloud Storage Appliance and incremental sales trends in their WAN optimization business' skewed towards the large multi-national enterprises.”

It further added that the bank was positive about RVBD’s progress in the cloud appliance market, especially keeping in mind the potential Cloud IT services optimization holds for a meaningful growth of the company.

It is worth mentioning that in November 2010, RVBD had stepped into the world of cloud storage with the introduction of its Whitewater appliance.

Prior to this big leap onto the cloud computing sector, the company, throughout its nine years of existence, mainly dealt in WAN optimisation and network traffic measurement products.

Experts believe that it was natural for the company to shift onto this relatively new field since cloud computing is not much different from WAN.

"There could come a day when companies don't have big data centers," said Jayson Noland, an R.W. Baird analyst. He added, "In that world, it's a pretty difficult life for a lot of vendors because there are fewer, larger buyers. But in the world that is Riverbed, that's a good trend because every office becomes a branch office."

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