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.

Advertisement - Article continues below

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

The case for a marketing content hub

Transform your digital marketing to deliver customer expectations

Download now

Fast, flexible and compliant e-signatures for global businesses

Be at the forefront of digital transformation with electronic signatures

Download now

Why CEOS should care about the move to SAP S/4HANA

And how they can accelerate business value

Download now

IT faces new security challenges in the wake of COVID-19

Beat the crisis by learning how to secure your network

Download now
Advertisement

Recommended

Visit/operating-systems/28025/best-linux-distros-2020
operating systems

Best Linux distros 2020

18 May 2020
Visit/cloud/33999/ibm-doubles-down-on-red-hat-independence
Cloud

IBM doubles down on Red Hat independence

10 Jul 2019

Most Popular

Visit/server-storage/network-attached-storage-nas/355849/western-digital-sneaked-inferior-smr-tech-into
network attached storage (NAS)

Western Digital accused of sneaking inferior SMR tech into NAS drives

1 Jun 2020
Visit/security/data-breaches/355777/easyjet-faces-class-action-lawsuit-over-data-breach
data breaches

EasyJet faces class-action lawsuit over data breach

26 May 2020
Visit/operating-systems/microsoft-windows/355812/microsoft-warns-against-installing-windows-10-may-2020
Microsoft Windows

Microsoft warns users not to install Windows 10's May update

28 May 2020