Red Hat Misses Top-Line Estimates

Red Hat(RHT) met analysts' fourth-quarter earnings expectations but revenue came in slightly below estimates.

The open-source software services provider said Wednesday that net income for the quarter ended Feb. 28 fell to $20.5 million or 10 cents a share, from $27.3 million, or 13 cents a share, a year earlier.

Excluding stock compensation and tax expense, Red Hat earned $32.7 million, or 15 cents a share, meeting the average analyst estimate as polled by Thomson Financial.

Revenue rose to $111.1 million from $78.3 million; analysts had expected revenue of $112.5 million.

Shares of Red Hat were recently off 4% to $22.22.