Red Hat Wins Big with OpenShift in 3Q17

For the quarter, Red Hat reported revenue of $615 million, for an 18 percent year-over-year gain. Net Income was reported at $68 million up from the $47 million Red Hat reported for the third quarter of fiscal 2016. Looking forward, Red Hat provided guidance for fourth quarter revenue to be in the range of $614 million to $622 million.

“We closed many large deals, including some of the largest deals in Red Hat’s history, with strong cross-selling and longer term commitments from our customers,” Jim Whitehurst, Red Hat’s CEO said during his company’s earnings call.