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Red Hat Sees Real Money in Virtualization and Cloud

Sep 23, 2010, 22:03 (0 Talkback[s])
(Other stories by Sean Michael Kerner)

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"For Linux vendor Red Hat, the road ahead is about looking up to the cloud as it ramps up business efforts to profit from new virtualization and service-oriented initiatives.

"Red Hat (NYSE: RHT) reported its second quarter fiscal 2011 financial results this week, posting solid revenue growth across its operating-system and middleware business units.

"For the quarter ending Aug. 31, Red Hat reported revenue of $220 million, a 20 percent increase over the same period last year. The firm reported net income of $23.7 million, or $0.12 per share, which is a decline from the $28.9 million that Red Hat reported in the year-earlier period. But in that quarter Red Hat included a one-time tax benefit of $7.3 million."

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