Earnings reports provide an important window into a public company’s financial and growth prospects as well as trouble spots. For Red Hat (NYSE:RHT), its Q3 results show the company is continuing to grow not only via new business, but gaining some key renewal contracts with its biggest customers. For example, Red Hat CFO Charlie Peters said that during the third quarter the company had a significant number of large deals with more than half of the top 30 deals at $1 million or more. DevX breaks down the earnings report including details on where the growth is coming in Red Hat’s product mix and how recent product introductions are helping the company versus the competition.
Red Hat’s Q3 financial results came in at the top end of its own expectations. Growth at Red Hat came by way of new products including Red Hat Enterprise Linux 6 (RHEL 6) and the continuing integration of JBoss middleware into the sales cycle.
Revenues for Red Hat’s third quarter of 2011 hit $235.6 million — a 21 percent increase over the third quarter of fiscal 2010. A key part of many of Red Hat’s large business deals is the growing importance of Red Hat’s JBoss middleware platforms as part of a total solution sale.
