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When Will Red Hat Make Money from OpenStack Clouds?

Jun 20, 2013, 11:00 (0 Talkback[s])
(Other stories by Sean Michael Kerner)

Linux vendor Red Hat announced its first quarter fiscal 2014 earning results late Wednesday, showing continued growth across multiple fronts, including the cloud. While Red Hat is now all in on OpenStack as a cloud platform, CEO Jim Whitehurst cautioned financial analysts that it is still early days.

For the quarter, Red Hat reported revenue of $363 million, which is a 15 percent year over year gain. Net Income was reported at $40 million or $0.21 per share which is a marginal increase over the $37 million reported a year ago. Moving forward, Red Hat provided second quarter fiscal 2014 guidance for revenue in the range of $370 million to $373 million.

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