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

By | September 22, 2010, 1:22pm PDT

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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Topics

Billing, Red Hat Inc., Earnings, Open Source, Larry Dignan

Larry Dignan is Editor in Chief of ZDNet and SmartPlanet as well as Editorial Director of ZDNet's sister site TechRepublic.

Disclosure

Larry Dignan

Larry Dignan has nothing to disclose. He doesn’t hold investments in the technology companies he covers.

Biography

Larry Dignan

Larry Dignan is Editor in Chief of ZDNet and SmartPlanet as well as Editorial Director of ZDNet's sister site TechRepublic. He was most recently Executive Editor of News and Blogs at ZDNet. Prior to that he was executive news editor at eWeek and news editor at Baseline. He also served as the East Coast news editor and finance editor at CNET News.com. Larry has covered the technology and financial services industry since 1995, publishing articles in WallStreetWeek.com, Inter@ctive Week, The New York Times, and Financial Planning magazine. He's a graduate of the Columbia School of Journalism and the University of Delaware.

For daily updates, follow Larry on Twitter.

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RE: Red Hat's second quarter strong: Best billings growth in two years
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of course the support is so much better.
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