Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of Aruba Networks (Nasdaq: ARUN ) soared today by more than 19% after the company posted better-than-expected earnings.
So what: Revenue in the fourth quarter rose 22% to $139.2 million, with full-year sales rising 30%. Adjusted non-GAAP net income totaled $22.1 million, or $0.18 per share. Both figures topped analysts' best guesses, which would have been happy with just $136.8 million in sales and $0.17 per share in adjusted profit.
Now what: CEO Dominic Orr said it was the 13th consecutive quarter of record revenue, and the company's traditional core verticals all posted strong results on continued enterprise growth. Networking and IT stocks had dipped during the summer over how macro concerns could affect enterprise spending, and the results alleviate some of those fears. Aruba continues to benefit from rapid adoption of mobile devices and BYOD policies within the enterprise.
Interested in more info on Aruba Networks? Add it to your watchlist by clicking here.