Sales Lift Red Hat
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.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV