Red Hat's fiscal fourth quarter handily topped expectations as the company delivered strong results and topped $1 billion in annual revenue.
The open source software company reported fourth quarter earnings of $36 million, or 18 cents a share, on revenue of $297 million, up 21 percent from a year ago. Non-GAAP earnings for Red Hat's fourth quarter earnings were 29 cents a share.
Wall Street was looking for fourth quarter earnings of 27 cents a share on revenue of $291.2 million.
For fiscal 2012, Red Hat reported earnings of $146.6 million, or 75 cents a share, on revenue of $1.13 billion, up 25 percent from a year ago.
In a statement, Red Hat CEO Jim Whitehurst said that the company expanded its sales footprint in international markets and is gaining as companies retool data centers and eye cloud computing.
By the numbers:
- Subscription revenue in the fourth quarter was $255.2 million, up 22 percent from a year ago.
- Operating income for the fourth quarter was $48.5 million with operating margins of 16.3 percent.
- Red Hat ended the quarter with $1.3 billion in cash and investments.