Red Hat Comes Out On Top
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Enterprise Linux player Red Hat proved again that it's managing to perform well despite the continued softness in corporate spending: During last quarter, it grew revenues and won customers from Windows and UNIX. Linux Planet takes a look.
Once again, Linux vendor Red Hat has beat expectations and defied the gravity of a down economy.
Red Hat (NYSE: RHT) reported its third-quarter fiscal 2010 earning late Tuesday for the quarter ending Nov. 30 with higher-than-expected revenues.
Red Hat beat analyst estimates and its own earlier guidance for the quarter, reporting revenue of $194 million, which is an 18 percent year-over-year increase, and before-charges earnings amounting to $0.17 per share -- a penny short of non-GAAP earnings a year ago.
Wall Street analysts had projected revenues of $188 million and earnings of $0.16 per share, according to Thomson Reuters. Red Hat itself provided guidance in the $187-$189 million range during the company's second-quarter fiscal 2010 analyst call.