Updated from 5:37 p.m. ET to reflect the company's outlook.
|Red Hat reported its fourth-quarter results after market close.|
Excluding items, Red Hat earned 29 cents a share, up from 26 cents a share in the year-ago quarter. Analysts surveyed by Thomson Reuters were looking for earnings of 27 cents a share.Investors welcomed the numbers, pushing Red Hat's shares up $4.48, or 8.72%, to $55.87 in extended trading. "The strength of our fourth quarter was a fitting conclusion to a remarkably strong year for our business," explained Jim Whitehurst, the Red Hat CEO, in a statement. "Our investments to expand our geographic sales footprint and add sales people with targeted industry and product knowledge has accelerated our growth." The open source software specialist also announced a $300 million share repurchase program after market close on Wednesday. For the first quarter, Red Hat expects revenue between $307 million and $311 million, above Wall Street's forecast of $306.2 million. Excluding items, Red Hat expects earnings between 25 cents a share and 27 cents a share. Analysts have predicted earnings of 27 cents a share. Red Hat also projected full-year sales between $1.34 billion and $1.36 billion and earnings, excluding items, between $1.16 a share and $1.20 a share. Analysts are looking for sales of $1.3 billion and earnings of $1.15 a share. --Written by James Rogers in New York. >To follow the writer on Twitter, go to http://twitter.com/jamesjrogers. >To submit a news tip, send an email to: firstname.lastname@example.org. Check out our new tech blog, Tech Trends. Follow TheStreet Tech on your wireless devices.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $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
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV