Red Hat 3Q revenue growth driven by subscriptions

Red Hat reports 46 percent growth in income

Buoyed by strong subscription revenue, open-source software company Red Hat reported on Monday strong net income and revenue gains for the third quarter of its fiscal year 2012.

For the quarter, which ended Nov. 30, Red Hat reaped US$38.2 million in net income, or $0.19 per diluted share, an increase of 46 percent from the same quarter a year ago, the company reported Monday.

Red Hat's revenue grew to $290 million, a 23 percent increase from a year ago. Of this revenue, $246.5 million came from software subscriptions, a 24 percent increase from the previous year, the company reported. Most of the remaining revenue came from the company's training services.

In this time period, the company benefitted from both strong demand from enterprise customers as well as gains in market share, said Jim Whitehurst, Red Hat president and CEO, in a statement. Red Hat also closed its acquisition of open-source storage software company Gluster during the quarter.

Taking into account factors such as stock compensation and amortization expenses, Red Hat reported non-GAAP net income of $55.7 million, or $0.28 per diluted share, as compared to $39.1 million, or $0.20 per diluted share, in the same quarter a year ago.

Joab Jackson covers enterprise software and general technology breaking news for The IDG News Service. Follow Joab on Twitter at @Joab_Jackson. Joab's e-mail address is Joab_Jackson@idg.com

Join the newsletter!

Error: Please check your email address.
Rocket to Success - Your 10 Tips for Smarter ERP System Selection

Tags business issuesfinancial resultsRed Hat

Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.

Joab Jackson

IDG News Service
Show Comments

Most Popular Reviews

Latest Articles

Resources

PCW Evaluation Team

Ben Ramsden

Sharp PN-40TC1 Huddle Board

Brainstorming, innovation, problem solving, and negotiation have all become much more productive and valuable if people can easily collaborate in real time with minimal friction.

Sarah Ieroianni

Brother QL-820NWB Professional Label Printer

The print quality also does not disappoint, it’s clear, bold, doesn’t smudge and the text is perfectly sized.

Ratchada Dunn

Sharp PN-40TC1 Huddle Board

The Huddle Board’s built in program; Sharp Touch Viewing software allows us to easily manipulate and edit our documents (jpegs and PDFs) all at the same time on the dashboard.

George Khoury

Sharp PN-40TC1 Huddle Board

The biggest perks for me would be that it comes with easy to use and comprehensive programs that make the collaboration process a whole lot more intuitive and organic

David Coyle

Brother PocketJet PJ-773 A4 Portable Thermal Printer

I rate the printer as a 5 out of 5 stars as it has been able to fit seamlessly into my busy and mobile lifestyle.

Kurt Hegetschweiler

Brother PocketJet PJ-773 A4 Portable Thermal Printer

It’s perfect for mobile workers. Just take it out — it’s small enough to sit anywhere — turn it on, load a sheet of paper, and start printing.

Featured Content

Latest Jobs

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?