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 . 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.