Exhibit 99.1

Investor Contact:

Kurt Abkemeier

Cbeyond, Inc.

Vice President, Finance and Treasurer

(678) 370-2887

    CBEYOND REPORTS SECOND QUARTER 2011 RESULTS    

Reiterates Full Year Guidance

ATLANTA (August 3, 2011) — Cbeyond, Inc. (NASDAQ: CBEY), (“Cbeyond”), a managed services provider that delivers integrated packages of IT and communications services, including virtual and dedicated servers and cloud PBX, to small businesses, today announced its results for the second quarter ended June 30, 2011.

Recent financial and operating highlights include:

Financial Overview and Key Operating Metrics

Financial and operating metrics, which include non-GAAP financial measures, for the three and six months ended June 30, 2011, include:

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Management Comments

“In the second quarter of 2011, we continued to make progress in the key areas of focus we outlined at the beginning of the year,” said Jim Geiger, chief executive officer of Cbeyond, Inc. “We have made investments in our future growth by strengthening our distribution channels, especially in the cloud services area, and by pursuing our ongoing Ethernet conversion initiative. Both our Core Managed Services and Cloud Services businesses demonstrated sequential revenue growth and adjusted EBITDA margins in line with our expectations.”

Geiger added, “Our Ethernet conversion initiative is an especially significant part of our strategic plan. As of June 30, 2011, we have transitioned over 12% of our customer base onto the new technology platform. The ongoing transition provides us the opportunity to improve adjusted EBITDA and free cash flow in future periods, as well as enables higher bandwidth for our customers.”

Second Quarter Financial and Business Summary

Revenues and ARPU

Cbeyond reported revenues of $120.6 million for the second quarter of 2011, an increase of 7.9% from the second quarter of 2010, including approximately $3.6 million of revenues generated through the Cloud Services Division, an 11.7% sequential quarterly increase. ARPU for the Core Managed Services was $660 in the second quarter of 2011, compared with $668 in the first quarter of 2011, and $708 in the second quarter of 2010. The sequential decline in ARPU in the second quarter of 2011 was at a slower pace than recent quarters, consistent with management expectations. Cbeyond believes that ongoing ARPU pressure is related to the sluggish economic environment affecting small businesses and continued competitive pressures.

Cost of Service and Gross Margin

Cbeyond’s gross margin was 66.7% in the second quarter of 2011, compared with 66.7% in the first quarter of 2011 and 68.4% in the second quarter of 2010. The first and second quarters of 2011 included elevated transitional costs related to the Ethernet initiative currently under way as T-1 circuits are converted to Ethernet circuits.

Adjusted EBITDA and Net Loss

Total adjusted EBITDA for the second quarter of 2011 was $19.3 million, as compared with total adjusted EBITDA of $18.4 million in the second quarter of 2010. Cbeyond reported a net loss of ($1.7) million for the second quarter of 2011 compared with a net loss of ($0.1) million for the second quarter of 2010. Adjusted EBITDA and net loss were adversely affected by results from early stage Core Managed Services Emerging Markets (see Selected Quarterly Financial Data and Operating Metrics, pages 7-9).

Cash and Cash Equivalents

Cash and cash equivalents amounted to $9.4 million at the end of the second quarter of 2011, as compared with $17.3 million at the end of the first quarter of 2011. Cash and cash equivalents decreased primarily due to

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purchases of stock made under the stock repurchase program initiated during the quarter and the prepayment of annual software maintenance from major vendors.

Capital Expenditures

Capital expenditures were $19.1 million during the second quarter of 2011, compared with $21.0 million in the first quarter of 2011 and $15.2 million in the second quarter of 2010. Capital expenditures decreased from the first quarter of 2011 primarily due to fewer purchases of customer premise equipment. Capital expenditures related to the Ethernet initiative in the second quarter of 2011 totaled $4.9 million, as compared with $8.7 million in the first quarter of 2011, and cumulative capital expenditures relating to Ethernet totaled $19.3 million as of June 30, 2011.

Business Outlook for 2011

Cbeyond reiterates the following guidance for 2011:

Share Repurchases

Cbeyond’s Board of Directors authorized up to $15.0 million in repurchases of shares of Cbeyond, Inc. common stock from time to time in open market purchases, privately negotiated transactions or otherwise. Through June 30, 2011, Cbeyond has spent $3.5 million on share repurchases.

Conference Call

Cbeyond will hold a conference call to discuss this press release Wednesday, August 3, 2011, at 5:00 p.m. EDT. A live broadcast of the conference call will be available on-line at www.cbeyond.net. To listen to the live call, please go to the web site at least 10 minutes early to register, download, and install any necessary audio software. The conference call will also be available by dialing (877) 303-9219 (for domestic U.S. callers) and (760) 666-3559 (for international callers). For those who cannot listen to the live broadcast, an on-line replay will be available shortly after the call and continue to be available for one year.

About Cbeyond

Cbeyond, Inc. (NASDAQ: CBEY) is a leading provider of IT and communications services to more than 59,000 small businesses throughout the United States. Serving growing entrepreneurs, Cbeyond offers more than 30 productivity-enhancing applications including local and long-distance voice, broadband Internet, mobile, BlackBerry^®, voicemail, email, Web hosting, fax-to-email, data backup, file-sharing, virtual private networking and cloud services. In addition, Cbeyond’s new Cloud Services division offers virtual and dedicated services and cloud PBX to small businesses worldwide. The Cloud Services division won Microsoft’s Hosting Partner of the Year for 2009 and 2010 in connection with Microsoft’s Hyper-V virtual server product. Winning over 50 awards for product innovation, growth and providing a quality customer experience, Cbeyond continues to focus on helping small businesses succeed and grow through high-performance technology, superior services and world-class support. For more information on Cbeyond, visit www.cbeyond.net and follow Cbeyond on Twitter: www.Twitter.com/Cbeyondinc.

Forward-Looking Statements

This document contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements identified by words such as “expectations,” “guidance,” “believes,” “expects,” “anticipates,” “estimates,” “intends,” “plans,” “targets,” “projects” and similar expressions. Such statements are based upon the current beliefs and expectations of Cbeyond’s management and are subject to significant risks and uncertainties. Actual results may differ from those set forth in the forward-looking statements. Factors that might cause future results to differ include, but are not limited to, the following: finalization of operating data, the significant reduction in economic activity, which particularly affects our target market of small businesses; the risk that we may be unable to continue to experience revenue growth at historical or anticipated levels; changes in business climate or other factors affecting our customer base; the risk of unexpected increases in customer churn levels; changes in federal or state regulation or decisions by regulatory bodies that affect Cbeyond; periods of economic downturn or unusual volatility in the capital markets or other negative macroeconomic conditions that could harm our business, including our access to capital markets and the impact on certain of our customers to meet their payment obligations; the timing of the initiation, progress or

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cancellation of significant contracts or arrangements; the mix and timing of services sold in a particular period; our ability to recruit and maintain experienced management and personnel; rapid technological change and the timing and amount of start-up costs incurred in connection with the introduction of new services or the entrance into new markets; our ability to maintain or attract sufficient customers in existing or new markets; our ability to respond to increasing competition; our ability to manage the growth of our operations; changes in estimates of taxable income or utilization of deferred tax assets which could significantly affect the Company’s effective tax rate; pending regulatory action relating to our compliance with customer proprietary network information; the risk that the anticipated benefits, growth prospects and synergies expected from our acquisitions may not be fully realized or may take longer to realize than expected; the possibility that economic benefits of future opportunities in an emerging industry may never materialize, including unexpected variations in market growth and demand for the acquired products and technologies; delays, disruptions, costs and challenges associated with integrating acquired companies into our existing business, including changing relationships with customers, employees or suppliers; unfamiliarity with the economic characteristics of new geographic markets; ongoing personnel and logistical challenges of managing a larger organization; our ability to retain and motivate key employees from the acquired companies; external events outside of our control, including extreme weather, natural disasters, pandemics or terrorist attacks that could adversely affect our target markets; and general economic and business conditions. You are advised to consult any further disclosures we make on related subjects in the reports we file with the SEC, including the “Risk Factors” in our most recent annual report on Form 10-K, together with updates that may occur in our quarterly reports on Form 10-Q and Current Reports on Form 8-K. Such disclosure covers certain risks, uncertainties and possibly inaccurate assumptions that could cause our actual results to differ materially from expected and historical results. We undertake no obligation to correct or update any forward-looking statements, whether as a result of new information, future events or otherwise.

Key Operating Metrics and Non-GAAP Financial Measures

In this press release, the Company uses several key operating metrics and non-GAAP financial measures. The Company defines each of these metrics and provides a reconciliation of non-GAAP financial measures to the most directly comparable generally accepted accounting principles in the United States, or GAAP, financial measure. These financial measures and operating metrics are a supplement to GAAP financial information and should not be considered as an alternative to, or more meaningful than, net income, cash flow or operating income as determined in accordance with GAAP.

Adjusted EBITDA is not a substitute for operating income, net income, or cash flow from operating activities as determined in accordance with GAAP, as a measure of performance or liquidity. The Company defines adjusted EBITDA as net income before interest, income taxes, depreciation and amortization expenses, excluding, when applicable, non-cash share-based compensation, public offering expenses, or acquisition-related transaction costs, purchase accounting adjustments, loss on disposal of property and equipment and other non-operating income or expense. Information relating to total adjusted EBITDA is provided so that investors have the same data that management employs in assessing the overall operation of the Company’s business.

Total adjusted EBITDA allows the chief operating decision maker to assess the performance of the Company’s business on a consolidated basis that corresponds to the measure used to assess the ability of its operating segments to produce operating cash flow to fund working capital needs, to service debt obligations and to fund capital expenditures. In particular, total adjusted EBITDA permits a comparative assessment of the Company’s operating performance, relative to a performance based on GAAP results, while isolating the effects of depreciation and amortization, which may vary among segments without any correlation to their underlying operating performance, and of non-cash share-based compensation, which is a non-cash expense that varies widely among similar companies.

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CBEYOND, INC. AND SUBSIDIARY

Condensed Consolidated Statements of Operations

(In thousands, except per share amounts)

(Unaudited)

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CBEYOND, INC. AND SUBSIDIARY

Condensed Consolidated Balance Sheets

(In thousands)

(Unaudited)

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CBEYOND, INC. AND SUBSIDIARY

Selected Quarterly Financial Data and Operating Metrics

(Dollars in thousands, except for Other Operating Data)

(Unaudited)

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CBEYOND, INC. AND SUBSIDIARY

Reconciliation of Non-GAAP Financial Measure to GAAP Financial Measure

(In thousands)

(Unaudited)