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Red Hat on course for a $1bn year

The firm has said it is on track to become the first open-source software company to reach $1bn in annual revenue, as it reported growth in its second quarter
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Written by Larry Dignan, Contributing Editor on

Red Hat delivered a strong second quarter on Wednesday as revenue growth continued to accelerate.

The company added that it was on track to finish its fiscal year as the first open-source software company to reach $1bn (£650m) in annual revenue. The Raleigh, North Carolina-based company said it continues to land datacentre deals, while its JBoss middleware is gaining momentum.

Red Hat reported second-quarter earnings of $40m, or 20 cents a share, on revenue of $281.3m, up 28 percent from a year ago. Non-GAAP earnings were 29 cents a share. Both earnings and non-GAAP net income was boosted by a tax benefit of a penny a share.

For more on this ZDNet UK-selected story, see Red Hat Q2 strong; On track for $1 billion in annual revenue on ZDNet.com.


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