Feeds

Subscriber love drives Red Hat in Q3

Investors applaud

Intelligent flash storage arrays

Red Hat has impressed once again, posting a 44 per cent surge in revenue during the third quarter. The software maker's results mark the second stellar quarter in a row.

Red Hat's revenue hit $73.1m in the period, which compares to $50.9m in the same period last year. Net income surged as well to $23.2m - a 114 per cent rise year-over-year. During the quarter, Red Hat benefited from a 54 per cent jump in subscription revenue to $60.2m.

"Our third quarter results reflect return on investments in people and infrastructure made in prior periods," stated Charlie Peters, executive vice president and chief financial officer of Red Hat. "Solid growth across key metrics indicates not only strength in the demand for our solutions but also continuing improvements in the day-to-day operations of our business."

Investors appeared pleased with Red Hat's performance, sending shares higher three per cent during regular trading and then adding close to five per cent again in the after-hours market, following the release of the third quarter results. At the time of this report, Red Hat hit $27.86 in after-hours trading - above a 52-week high of $26.50.

In September, Red Hat's shares surged as well after it reported banner second quarter figures. Red Hat has now grown revenue by more than 40 per cent two quarters in a row.

Red Hat has yet to provide a forecast for the fourth quarter. ®

Internet Security Threat Report 2014

More from The Register

next story
Download alert: Nearly ALL top 100 Android, iOS paid apps hacked
Attack of the Clones? Yeah, but much, much scarier – report
NSA SOURCE CODE LEAK: Information slurp tools to appear online
Now you can run your own intelligence agency
Microsoft: Your Linux Docker containers are now OURS to command
New tool lets admins wrangle Linux apps from Windows
Facebook, working on Facebook at Work, works on Facebook. At Work
You don't want your cat or drunk pics at the office
Soz, web devs: Google snatches its Wallet off the table
Killing off web service in 3 months... but app-happy bonkers are fine
First in line to order a Nexus 6? AT&T has a BRICK for you
Black Screen of Death plagues early Google-mobe batch
prev story

Whitepapers

Why cloud backup?
Combining the latest advancements in disk-based backup with secure, integrated, cloud technologies offer organizations fast and assured recovery of their critical enterprise data.
Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Designing and building an open ITOA architecture
Learn about a new IT data taxonomy defined by the four data sources of IT visibility: wire, machine, agent, and synthetic data sets.
How to determine if cloud backup is right for your servers
Two key factors, technical feasibility and TCO economics, that backup and IT operations managers should consider when assessing cloud backup.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.