Over the three months to May, the company earned 34 cents a share, a penny higher than what analysts surveyed by Thomson Reuters had forecast. Revenue of $423.75 million was 16.7% higher year over year and exceeded estimates of $413.97 million.
After the bell, shares had spiked 4.3% to $55.40.
Must read: Warren Buffett's 25 Favorite StocksSTOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more. ------------- Separately, TheStreet Ratings team rates RED HAT INC as a Hold with a ratings score of C+. TheStreet Ratings Team has this to say about their recommendation: "We rate RED HAT INC (RHT) a HOLD. The primary factors that have impacted our rating are mixed -- some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures and growth in earnings per share. However, as a counter to these strengths, we find that the company's return on equity has been disappointing."
- You can view the full analysis from the report here: RHT Ratings Report