“The latest virtuoso performance came earlier this week, when
Red Hat president and CEO Matthew Szulik commented on his company’s
unexpectedly wide loss of $3.5 million (US$) in its third
quarter….”
“Instead of focusing upon the fact that the recently-gone public
Red Hat actually fell into the red after making a profit of
$120,000 in the year-earlier third quarter, Szulik focused on the
fact that its revenue increased 63 percent to $5.4 million.”
“When a company misses earning estimates in the drab steel
and concrete world, its stock usually takes a big nose-dive. But
not in the cyberworld of high-tech and dot-coms. In case you
hadn’t noticed, Red Hat shares shot up $15 to $267 on the Nasdaq
Stock Market by Monday’s closing.”