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Red Hat: Q3 results above expectations

(CercleFinance.com) - On Tuesday Red Hat announced adjusted net income that was up 20% at 133 million dollars for its third quarter, or 73 cents per share, while the consensus expected three cents less.

The open source software publisher increased its quarterly revenues by 22% to 748 million dollars, including a 44% rise in revenue from subscriptions to the development of applications and other emerging technologies, to 162 million dollars.

For the full year, Red Hat expects adjusted EPS of approximately 2.88 dollars, with revenues of between 2,906 million and 2,911 million dollars, compared with respective previous target ranges of 2.77-2.79 dollars and 2,880 million-2,895 million dollars previously.

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