Red Hat Revenue Up, Linux Stronger Than Ever
Red Hat's revenue for its third fiscal quarter came out to $343.6 million, representing an 18 percent bump from one year prior, or 21 percent if measured in constant currency. Subscription revenue jumped 19 percent to $294.2 million (or 22 percent in constant currency).
Red Hat headquarters.
"Strong execution, industry leading solutions and our ability to deliver a compelling ROI to our customers, all contributed to continued momentum and strong third quarter revenue growth in the face of a challenging global economic environment. Red Hat is benefiting from our position as a trusted vendor for IT," stated Jim Whitehurst, President and Chief Executive Officer of Red Hat. "Since October of last year we have completed three acquisitions, and are announcing a fourth today to expand our portfolio of open source solutions and enlarge our addressable market. As our enterprise customers move to open, hybrid cloud architectures, we are addressing their needs with a clear roadmap based on industry-leading open source technologies."
In related news, Red Hat signed a definitive agreement to acquire ManageIQ, a provider of enterprise cloud management and automation solutions. Red Hat plans to use the acquisition to expand the reach of its hybrid cloud management solutions for enterprises, the company said.