UPDATE 2-Riverbed Technology posts profit in Q3

(Adds analyst's comment)

Oct 23 (Reuters) - Computer networking company Riverbed Technology Inc (RVBD.O) posted a profit in the third quarter, in line with analysts' estimates, helped by a 157 percent increase in revenue.

Shares of the San Francisco-based company fell more than 15 percent to $40.48 in late electronic trade after closing at $47.96 on the Nasdaq on Tuesday.

Janco Partners Inc analyst Cameron Cooke said by phone, "Typically this company beats Street consensus by quite a bit and they did not beat by as much as people were expecting."

Riverbed posted a profit of $2.8 million, or 4 cents a share, compared with a net loss of $3.1 million, or 16 cents a share, a year ago.

Excluding items, the company earned 17 cents a share, in line with Wall Street estimates.

The company said strong demand for its products helped it post revenue of $63.3 million in the quarter. Analysts expected $61.4 million, according to Reuters Estimates. (Reporting by Bhaswati Mukhopadhyay in Bangalore)