Red Hat decided to kick off the holidays by giving its shareholders a little gift today. The company reported its earnings and the stock jumped 13% as a result. Red Hat delivered third quarter earnings of 42 cents versus an expected 35 cents. Revenue came in at $397 million , much higher than the anticipated $383 million. Subscription revenue rose 17%. The company also guided higher for the fourth quarter with a range of 36 to 38 cents and consensus is only at 36 cents.

Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.

More from Video

Video: Here Is Why Carvana Isn't Worried About Amazon

Video: Here Is Why Carvana Isn't Worried About Amazon

Video: What Oprah's Content Partnership With Apple Means for the Rest of Tech

Video: What Oprah's Content Partnership With Apple Means for the Rest of Tech

REPLAY: Jim Cramer on the Markets, Oil, Starbucks, Tesla, Okta and Red Hat

REPLAY: Jim Cramer on the Markets, Oil, Starbucks, Tesla, Okta and Red Hat

Flashback Friday: The Market Movers

Flashback Friday: The Market Movers

This Could Be the Summer of Hard Seltzer

This Could Be the Summer of Hard Seltzer