RSS   Newsletter   Contact   Advertise with us

Red Hat Q3 profit increased to $67.9 million

Staff Writer | December 23, 2016
Red Hat reported an increase in profit for the third quarter driven largely by 18 percent growth in revenues.
Red Hat
Red Hat   $0.37 per share
Q3 profit rose to $67.9 million or $0.37 per share from $46.8 million or $0.25 per share last year.

Adjusted earnings for the quarter rose to $0.61 per share from $0.48 per share last year.

Revenues for the quarter grew 18 percent to $615.3 million from $523.6 million last year. Analysts had a consensus revenue estimate of $618.02 million for the quarter.

Subscription revenue, which represents the major chunk of revenues, increased 19 percent to $543.3 million.

Looking forward to the full year, Red Hat expects adjusted earnings of about $2.27 per share and revenues of $2.397 billion to $2.405 billion.