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Revenue Rises at Red Hat

Stock quotes in this article: RHAT , NOVL  

Updated from 7:22 p.m. EDT

Strong sales of its Linux software helped Red Hat(RHAT Quote) boost first-quarter revenue by 38%.

Total revenue for the May quarter was $84 million, while subscription revenue increased by 45% compared to the same quarter last year.

Red Hat posted a profit of $13.8 million, or 7 cents a share. A year ago, net income was $12.4 million, or 7 cents a share. But the company said earnings for the quarter are not comparable because it has begun expensing stock options. ...

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