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How Red Hat Made Money in 2010 (up 15% year over year)

Mar 25, 2010, 20:33 (0 Talkback[s])
(Other stories by Sean Michael Kerner)

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"The past twelve months have been good for Linux vendor Red Hat (NYSE:RHT) as the company grew revenues and income while expanding its product offerings in the cloud and virtualization space. But how did Red Hat grow while others staggered?

"During Red Hat's fiscal 2010 earnings call on Wednesday, Red Hat’s CEO and CFO detailed the steps their company took to leverage open source software to make millions.

"For the fiscal year ended Feb. 28, Red Hat reported revenues of $748 million, a 15 percent year-over-year increase from Red Hat's total revenue in 2009. Net income totaled $87.3 million or $0.45 per share, improvement of 11 percent over Red Hat's earnings for 2009."

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