Red Hat: Fiscal 3Q Earnings Snapshot
RALEIGH, N.C. (AP) _ Red Hat Inc. (RHT) on Monday reported fiscal third-quarter earnings of $94.5 million.
The Raleigh, North Carolina-based company said it had profit of 51 cents per share. Earnings, adjusted for one-time gains and costs, came to 96 cents per share.
The results beat Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of 87 cents per share.
The open-source software company posted revenue of $846.8 million in the period, missing Street forecasts. Twelve analysts surveyed by Zacks expected $853.6 million.
Red Hat shares have climbed 47 percent since the beginning of the year, while the Standard & Poor’s 500 index has fallen almost 5 percent. In the final minutes of trading on Monday, shares hit $176, an increase of 37 percent in the last 12 months.