Extract String from Text

[LadyDi]

Is there a formula that will look for a phrase (i.e. "Status bytes:") and then pull all characters between the : and the next space?

 

[Galaxiom]

Probably best write a custom function. It would not be very complex.
Most of the coding will involve the InStr and Mid functions. Read up on them.

 

[NBVC]

Is there a space right after the colon?

If so, use:

=LEFT(MID(A1,SEARCH("bytes:",A1)+7,255),FIND(" ",MID(A1,SEARCH("bytes:",A1)+7,255)))

otherwise try:

=LEFT(MID(A1,SEARCH("bytes:",A1)+6,255),FIND(" ",MID(A1,SEARCH("bytes:",A1)+6,255)))