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 Infoblox Inc (NYSE:BLOX) jumped more than 10% Friday after the automated network-control specialist announced better-than-expected fiscal second quarter 2015 results.

So what: Quarterly net revenue climbed 22% year over year to $74.3 million, which translated to adjusted net income of $5.3 million, or $0.09 per diluted share. On a non-adjusted GAAP basis Infoblox posted a net loss of $7 million, or $0.13 per share. But analysts, on average, were expecting lower earnings (on a non-GAAP basis) of $0.05 per share with sales of $68.2 million.

"In the quarter, strengthening demand for our DDI, security and cloud solutions drove both year-over-year and sequential revenue growth in all three geographic regions." stated Infoblox CEO Jesper Andersen. "We also experienced a strong quarter from a new customer acquisition standpoint and added approximately 250 customers."

Now what: For the current quarter, Infoblox anticipates net revenue of $74 million to $76 million, which should result in adjusted net income per diluted share of $0.06 to $0.08. Again, the mid-point of both ranges sits above Wall Street's expectations, which called for fiscal third quarter 2015 earnings of $0.06 per share on sales of $70.9 million.

All things considered, shares of Infoblox may not look cheap trading around 60 times next year's expected earnings, but that's not entirely surprising for a company pursuing top-line growth and on the cusp of sustained profitability. In the end, while I'm not personally inclined to dive in right now, I can't blame the market for bidding up shares of Infoblox today.