Friday, 19 June 2015 12:11

Red Hat reports 26% rise in profits for first quarter

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Linux and open source solutions provider Red Hat, has reported a net profit of US$48 million for the first quarter of its current fiscal year, an increase of 26 per cent on the corresponding quarter in the previous fiscal year.

Sales increased to US$481 million, an increase of 14 per cent year-on-year for the corresponding quarter while GAAP operating income for the period was US$71 million, up 39 per cent year-on-year.

Red Hat's fiscal year runs from March 1 to the end of February.

Most of the company's revenue during the quarter came from subscriptions - US$425 million, an increase of 14 per cent year-on-year. There was an additional US$5 million from cloud providers who are certified by Red Hat.

A media release quoted chief executive Jim Whitehurst as saying: "Our solid start to fiscal year 2016 was evidenced by strong constant currency revenue growth of over 20%.

"This strong growth reflects in part the demand for our open, hybrid cloud technologies across four footprints: bare metal, virtualisation, private cloud and public cloud deployments.

"Red Hat's portfolio of technologies becomes increasingly strategic to customers who are looking to expand their capabilities and agility to build and deploy applications across these data center footprints."


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Sam Varghese

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Sam Varghese has been writing for iTWire since 2006, a year after the site came into existence. For nearly a decade thereafter, he wrote mostly about free and open source software, based on his own use of this genre of software. Since May 2016, he has been writing across many areas of technology. He has been a journalist for nearly 40 years in India (Indian Express and Deccan Herald), the UAE (Khaleej Times) and Australia (Daily Commercial News (now defunct) and The Age). His personal blog is titled Irregular Expression.

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