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Red Hat's results beat expectations

Analysts were predicting the open source software firm Red Hat's Q3 results to show earnings of 18 US cents per share on revenues of $166.4m - in the event, Red Hat reported 24 cents on $165.

Analysts were predicting the open source software firm Red Hat's Q3 results to show earnings of 18 US cents per share on revenues of $166.4m - in the event, Red Hat reported 24 cents on $165.3m.

The results were issued on Monday. Revenue was up one percent on the previous quarter and 22 percent year-on-year. According to the firm's statement, results would have been even better if it were not for the weakness of the dollar.

"Our solid financial results this quarter reflect our strong market position as the low cost, high value provider of infrastructure solutions," said Red Hat chief Jim Whitehurst. "Purchasing decisions for IT have changed dramatically for CIOs. In this budget-constrained environment, IT professionals are adopting open source and more specifically Red Hat to save money and enhance their competitiveness."

As with Novell's recently-reported results, Red Hat's revenues seem to show how strongly Linux is performing in the enterprise. Go go go!