Red Hat revenues up 21 per cent

The open source leader brings in successful results for its third quarter.

Red Hat

Revenues rose at an impressive rate for open source experts Red Hat in the last three months.

The company reported its third quarter results today, showing revenues of $235.6 million (152.4 million), up by 21 per cent from the same period last year.

It also claimed operating income had short up by 92 per cent from last year, rising from $19.8 million to $38 million. However, in the third quarter of 2009, the company had to pay out $8.8 million for a litigation settlement.

The final figure of $71 million for operating cash flow secured a successful results call for the company.

"Top line growth of 21 per cent and even faster operating income growth, contributed to a 31 per cent increase in operating cash flow," said Charlie Peters, executive vice president and chief financial officer (CFO) of Red Hat.

"We are well positioned at the confluence of several hot areas of IT: open source, virtualisation and cloud computing we are executing consistently and we are making focused investments in growth initiatives." Earlier this year, IT PRO spoke to the European manager of Red Hat. Take a look at our video interview with Werner Knoblich here: part one and part two.

Featured Resources

Unlocking collaboration: Making software work better together

How to improve collaboration and agility with the right tech

Download now

Four steps to field service excellence

How to thrive in the experience economy

Download now

Six things a developer should know about Postgres

Why enterprises are choosing PostgreSQL

Download now

The path to CX excellence for B2B services

The four stages to thrive in the experience economy

Download now

Recommended

Redis closes another round of funding, raking in an additional $110 million
open source

Redis closes another round of funding, raking in an additional $110 million

8 Apr 2021
Six things a developer should know about Postgres
Whitepaper

Six things a developer should know about Postgres

22 Mar 2021
Best Linux distros 2021
operating systems

Best Linux distros 2021

26 Feb 2021
Golang XML parser vulnerability could enable SAML authentication bypass
vulnerability

Golang XML parser vulnerability could enable SAML authentication bypass

15 Dec 2020

Most Popular

Microsoft is submerging servers in boiling liquid to prevent Teams outages
data centres

Microsoft is submerging servers in boiling liquid to prevent Teams outages

7 Apr 2021
How to find RAM speed, size and type
Laptops

How to find RAM speed, size and type

8 Apr 2021
Hackers are using fake messages to break into WhatsApp accounts
instant messaging (IM)

Hackers are using fake messages to break into WhatsApp accounts

8 Apr 2021