Updated from 5:35 p.m. ET to add information on Transocean and latest share prices. NEW YORK ( TheStreet) -- Shares of Riverbed Technology ( RVBD) fell in late trades Thursday as Wall Street was less than impressed with a penny beat from the maker of network management products. The San Francisco-based company reported non-GAAP earnings of $41 million, or 25 cents a share, on revenue for $204 million for the three months ended Dec. 31. That's up slightly from its equivalent profit of $40 million, or 24 cents a share, on revenue of $191 million in the third quarter. The average estimate of analysts polled by Thomson Reuters was for earnings of 24 cents a share in the latest quarter on revenue of $200.8 million. The stock was last quoted at $25.80, down 13.8%, on volume of nearly 1.4 million, according to Nasdaq.com. Based on Thursday's regular-session close at $29.92, the shares were down 15% in the past year. Since the calendar turned though Riverbed's stock has seen a resurgence, rising more than 25% and boosting the pressure on the company to outperform this past quarter. Back on Oct. 19, Riverbed delivered an upside earnings surprise of nearly 14% for its fiscal third quarter. "The business has been executing well and fourth quarter revenue growth was fueled by strong enterprise sales in both the U.S. and EMEA
Europe, Middle East and Africa," said Randy Gottfried, the company's chief financial officer, in a press release Thursday. "Despite higher disk drive costs resulting from recent Thai floods, we reported strong gross and operating margins in the fourth quarter. We believe our past investments in our core and new products will continue to yield solid revenue and profit growth in 2012." Wall Street was bullish ahead of the report with 23 of the 36 analysts covering Riverbed at either strong buy (8) or buy (15) vs. 12 holds and one sell. The median 12-month price target is $30.50. Check out TheStreet's quote page for Riverbed Technology for year-to-date share performance, analyst ratings, earnings estimates and much more.
As a result, it sees earnings per share growth of 10% in the first half of 2012, and 25% in the second half. Starbucks reported fiscal first-quarter earnings of $382.1 million, or 50 cents a share, on revenue of $3.44 billion. The average estimate of analysts polled by Thomson Reuters was for a profit of 49 cents a share in the December-ended period on revenue of $3.29 billion. The stock was last quoted at $47.31, down 2%, on volume of more than 1 million, according Nasdaq.com.