Red Hat's second quarter strong: Best billings growth in two years

Red Hat continues to report strong quarterly results as the company plans to ramp up its cloud management capabilities.

Red Hat continues to report strong quarterly results as the company plans to ramp up its cloud management capabilities.

The company on Wednesday reported earnings of $23.7 million, or 12 cents a share, on revenue of $219.8 million, up 20 percent from a year ago. Non-GAAP earnings were 19 cents a share.

Wall Street was expecting Red Hat to report earnings of 18 cents a share on revenue of $211.5 million.

In a statement, Red Hat CEO Jim Whitehurst said that the company is seeing its "best billings growth rate in two years." In addition, Whitehurst was upbeat about Red Hat's cloud computing plans and virtualization initiatives unveiled last month.

Like last quarter, Red Hat is renewing contracts, cross-selling JBoss middleware and riding the server upgrade cycle.

Related:

Red Hat sets its cloud strategy, touts portability, eyes Microsoft Azure alternative

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