Want To See An IPO Done Right? Infoblox Is Still Killing It

Infoblox

Here’s more evidence that enterprise tech is hot right now.

Infoblox beat estimates for its first quarterly results since going public last month. Shares are up more than 3% after close.

Infoblox posted third-quarter revenue of $43.4 million, up from $31.8 million year in the year ago quarter and beatingĀ  analysts’ estimates of $41.4 million. It posted non-GAAP EPS of $0.05 when analysts were looking for $0.01.

Shares surged 5% in after hours trading to $19.50, though they’ve crawled back down to about $18 now.

Infoblox opened at $16 for its IPO last month and investors loved it, driving the stock up to $23 that day.

Infoblox makes network automation technology that helps companies make sure that their networks keep running smoothly. It was one of two hot enterprise IPOs in April. The other was the first big data IPO, Splunk. Splunk reports its first quarter on May 31.

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