Infoblox Shares Rally On Earnings, Outlook, Buyback Plan

By Wallace WitkowskiMarketWatch Pulse

Infoblox Inc. shares jumped in the extended session Monday after the network software company's quarterly results and outlook topped Wall Street estimates. Infoblox shares surged 18% to $17.80. The company reported adjusted fiscal first-quarter earnings of 13 cents a share on revenue of $94 million. Analysts surveyed by FactSet had forecast 6 cents a share on revenue of $87.6 million. Infoblox forecast adjusted fiscal second-quarter earnings of 12 cents to 14 cents on revenue of $93 million to $95 million. Analysts had estimated 7 cents a share on revenue of $91.1 million. The company also said its board authorized a $100 million share buyback program, with $50 million of that in the short term.

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