Feeds

Red Hat shares soar on impressive Q2

Analysts pull out their pom poms

Secure remote control for conventional and virtual desktops

Shares of Red Hat jumped today as the software maker revealed that strong sales pushed second quarter revenue significantly higher.

Red Hat enjoyed a healthy three-month run, pulling in revenue of $65.7m. That total marks a 42 per cent year-over-year rise. In addition, Red Hat's second quarter net income reached $16.7m - a 42 per cent hike from the same period last year. The results inspired investors and analysts to reward the Linux maker with praise.

In the after-hours markets, Red Hat's shares jumped more than 10 per cent to $18.29, at the time of this report.

Similarly, financial analysts on a conference call to discuss the Red Hat results fought to heap encouraging words on management.

"Congratulations, everybody," said an analyst from Thomas Weisel Partners.

"Congratulations on the quarter," added a Credit Suisse First Boston guru.

Folks from UBS and Robert Baird offered their compliments as well. "Wow" and "Very good execution here" said others.

The performance helped demonstrate the strength of backbone holding up the financial analyst community, and it made all of us on the call feel good.

Management played off the good vibrations to tout increasing interest in its server products and services and momentum with partners such as Oracle and HP. Fair enough, since subscription revenue increased 56 per cent year-over-year in the second quarter to $54.3m.

Red Hat certainly has the look and feel of a healthy company these days. Still, its quarterly revenue totals must be set against how much the likes of IBM, HP and Dell make selling Linux servers. While Linux enjoys the strongest growth rate of any server OS, most of that money travels to the hardware makers, leaving Red Hat and Novell to fight over scraps. ®

Providing a secure and efficient Helpdesk

More from The Register

next story
'Windows 9' LEAK: Microsoft's playing catchup with Linux
Multiple desktops and live tiles in restored Start button star in new vids
Not appy with your Chromebook? Well now it can run Android apps
Google offers beta of tricky OS-inside-OS tech
New 'Cosmos' browser surfs the net by TXT alone
No data plan? No WiFi? No worries ... except sluggish download speed
Greater dev access to iOS 8 will put us AT RISK from HACKERS
Knocking holes in Apple's walled garden could backfire, says securo-chap
NHS grows a NoSQL backbone and rips out its Oracle Spine
Open source? In the government? Ha ha! What, wait ...?
Google extends app refund window to two hours
You now have 120 minutes to finish that game instead of 15
Intel: Hey, enterprises, drop everything and DO HADOOP
Big Data analytics projected to run on more servers than any other app
prev story

Whitepapers

Secure remote control for conventional and virtual desktops
Balancing user privacy and privileged access, in accordance with compliance frameworks and legislation. Evaluating any potential remote control choice.
Saudi Petroleum chooses Tegile storage solution
A storage solution that addresses company growth and performance for business-critical applications of caseware archive and search along with other key operational systems.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.
Providing a secure and efficient Helpdesk
A single remote control platform for user support is be key to providing an efficient helpdesk. Retain full control over the way in which screen and keystroke data is transmitted.