Kbps (Kilobits Per Second)

Stands for "Kilobits Per Second." Don't confuse this with Kilobytes per second (which is 8 times more data per second). This term is commonly used in describing data transfer rates. For example, two common modem speeds are 33.6 Kbps and 56 Kbps.

Definition from the Tech Terms Computer Dictionary
http://www.techterms.com/definition/kbps