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What: Shares of Infoblox have popped today by as much as 18% after the company reported earnings.
So what: Revenue in the fiscal third quarter came in at a record $58 million, topping the Street's $56 million forecast. Non-GAAP earnings per share totaled $0.11, also ahead of the $0.06-per-share adjusted profit that investors were expecting. CEO Robert Thomas said the company's value proposition -- helping networks become more automated and secure -- is driving its outperformance.
Now what: Next quarter should see sales of $58 million to $59 million, with adjusted earnings per share of $0.08 to $0.09. That guidance is also better than expected. Full-year revenue outlook calls for revenue in the range of $220 million to $221 million. Needham has reiterated its buy rating while boosting its price target to $28.
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The article Why Infoblox Shares Popped originally appeared on Fool.com.Fool contributor Evan Niu, CFA, has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.