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Red Hat revenue on the rise
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Red Hat is doing pretty well for themselves it seems. Subscriptions are up, money is flowing and all is good in the world of Red Hat Linux.
Strong Linux sales drove Red Hat Inc. revenue up 38 percent in its fiscal 2007 first quarter, the company announced Wednesday.
Red Hat reported revenue of US$84 million for the quarter. Subscriptions were up 45 percent from the year-ago quarter to $71.5 million.
GAAP net income for the quarter was $13.8 million, or $0.07 per share, compared with $12.4 million, or $0.07 per share, for the same year-ago period. But that comparison is skewed by new rules requiring the company to expense stock options, which hit income in the first quarter…. Source: InfoWorld