As Red Hat prepares to become part of Big Blue its financials look as solid as Linux kernel 2.4

www.theregister.co.uk | 3/26/2019 | Staff
cyanbyte (Posted by) Level 3
Click For Photo: https://regmedia.co.uk/2018/06/18/shutterstock_guy_in_red_hat.jpg

Before it is subsumed by a sea of big-suited IBM blueness, Red Hat somehow managed to miss its own forecasts while turning in some otherwise sturdy financial numbers on Monday.

For the three months to February 28, its final quarter of its fiscal 2019, Red Hat reported a 14 per cent year-on-year hike in revenue to $879m, one per cent shy of its projections. It could have been better. It could have been much worse, of course.

Red - Hat - Cent - Revenue - Subscriptions

This being Red Hat, 88 per cent of the quarterly revenue came from subscriptions: $774m, up 13.3 per cent. Almost a third of subscriptions were related to the company's application development and emerging technologies (OpenStack, OpenShift, and Ansible) portfolio, bringing in $225m in revenue for the quarter.

Turnover from training and services reached $104.8m, up 17.3 per cent year-on-year.

Line - Enterprise - Punters - Cloud - Hat

The top line was kept bouncing along by enterprise punters embracing the hybrid cloud: Red Hat positions itself as the bridge between new and old world tech. Its net profit for the quarter came to $139m, better than the $12m loss this time last year due to a $123m one-time tax charge.

The company said it had more than 1,300 paying customers using Ansible to automate their IT, and more than 1,000 organisations had adopted OpenShift, Red Hat's application container...
(Excerpt) Read more at: www.theregister.co.uk
Wake Up To Breaking News!
Sign In or Register to comment.

Welcome to Long Room!

Where The World Finds Its News!