Red Hat Grows Earnings by Upselling

"Red Hat reported second quarter fiscal 2012 results with revenues reported at $281.3 million, which is a 28 percent year-over-year gain. Net Income also grew, coming in at $40.0 million which stands in contrast to the $23.7 million reported for the second quarter of fiscal 2011.

Moving forward Red Hat provided third quarter revenue guidance to be in the range of $288 million to $290 million. Red Hat's performance so far this year, coupled with a positive outlook is leading the company to raise their full year revenue guidance by $45 million, to a range of $1.12 billion to $1.13 billion.

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