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Linux Subscriptions Paying Off for Red Hat

Dec 23, 2008, 21:01 (0 Talkback[s])
(Other stories by Sean Michael Kerner)

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"Linux vendor Red Hat yesterday reported growth in income and revenues on the back of renewal rates for its Linux support subscriptions. Revenues for the company's third fiscal quarter for 2009, which ended Nov. 30, hit $165.3 million, an increase of 22 percent over its third-quarter fiscal 2008 performance a year ago.

"On the net income side of the books, Red Hat (NYSE: RHT) reported income of $24.3 million, or 12 cents per share, which is an improvement over the $20.3 million or 10 cent per share it reported for the same period last year. Minus taxes and other costs, profit totaled 24 cents per share, topping Wall Street estimates of 17 cents per share, according to Reuters Estimates."

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