Red Hat increases turnover and profits
In the latest fourth quarter of its fiscal year, the US-based Linux, virtualisation and middleware maker Red Hat generated a revenue of $348 million (€272 million), which is $51 million more than during the same period last year. The company's result came in slightly below analysts' projections. According to Red Hat's report, the company's net profits increased from $36 million to $43 million.
Red Hat's software subscription revenue increased from $255 million to $303 million. Its training and other services generated $45 million, compared with $42 million last year. Over the entire fiscal year, Red Hat's subscription business generated $1.148 billion, compared with $965 million the previous year. The company's training revenue increased by $13 million to $180 million. Its annual net profits increased from $147 million to $150 million.
The stock market was apparently unimpressed, with aftermarket trading seeing shares down 11 per cent, according to Reuters.