UPDATE 2-Riverbed sees Q1 profit above Street view; shares rise

* Q4 adj EPS $0.19 vs est. $0.18

* Q4 rev up 12 pct

* Sees Q1 adj EPS $0.18 vs $0.17

* Sees Q1 rev $159-$161 mln vs est. $154.1 mln

* Shares up 5 pct (Recasts, adds details, conference call comments, share movement)

Jan 27 (Reuters) - Network equipment maker Riverbed Technology Inc (RVBD.O) forecast first-quarter results above Wall Street expectations as it taps firms that are looking to bolster their cloud computing infrastructure, sending its shares up 5 percent in after-market trade.

"There is a mega trend towards consolidation of data in fewer and fewer locations, and without a doubt that is wind in our sails," Eric Wolford, Riverbed's senior vice president, said in a conference call.

Riverbed helps companies to move file and email servers from remote offices to data centers to cut costs without impacting end user performance.

Riverbed's shares, which fell 3 percent in trading after the bell after the results, rose $1.59 to $36.50 after the first-quarter forecast. The stock closed at $34.91 on Thursday on Nasdaq.

Riverbed expects first-quarter adjusted profit of 18 cents a share, on revenue of $159-$161 million.

Analysts were expecting earnings of 17 cents, excluding items, on revenue of $154.1 million, according to Thomson Reuters I/B/E/S.

For the October-December quarter, Riverbed, which provides technology that speeds up applications over networks, earned $12.6 million, or 8 cents a share, compared with $932,000, or 1 cent a share, a year ago.

Excluding items, the company earned 19 cents a share.

Revenue for the company, which competes with Cisco Systems (CSCO.O) and Blue Coat Systems BCSI.O, rose 12 percent to $165.4 million.

Analysts were expecting quarterly earnings of 18 cents, on revenue of $158.6 million.

On Jan 20, a gloomy outlook from rival F5 Networks (FFIV.O) had raised concerns on the growth potential of firms that help manage Internet traffic. [ID:nSGE70H0CM] (Reporting by Supantha Mukherjee in Bangalore; Editing by Prem Udayabhanu)