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Red Hat Delivers Holiday Earnings Gift

Red Hat kicked-off the holidays with a gift, reporting earnings that beat estimates as shares surged.

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.

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