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What: Shares of Infoblox (NYSE: BLOX) 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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