Red Hat (RHAT) doubled fiscal third-quarter earnings Thursday on a 44% jump in sales, exceeding analyst expectations.
The Raleigh, N.C.-based open-source software maker earned $23.2 million, or 12 cents a share, in the third quarter ended Nov. 30, up from $10.8 million, or 6 cents a share, a year earlier.
Total revenue for the third quarter rose 44% to $73.1 million. Subscription revenue climbed 54% from a year ago to $60.2 million.
Analysts were expecting Red Hat to earn 9 cents a share on $71.1 million in sales in the third quarter, according to Thomson First Call.Shares of Red Hat were recently trading up 87 cents, or 3.4%, at $26.60.