Monday, December 19, 2011

Red Hat Beats Projections in Q3--Earnings Reported

Raleigh-based Red Hat shared unadjusted third-quarter earnings of 28 cents per share on Monday, up 40 percent from the same quarter in 2010 and above what analysts had predicted. 

Adjusted for accounting, total revenue of $290.0 million represents 19 cents per share earnings. Both figures are up over last year's quarterly earnings.

Net income for the quarter was $38.2 million, or 19 cents per diluted share. Red Hat reported earnings numbers after the market closed on Monday.

"Red Hat continues to benefit from enterprise customers that are seeking to leverage their IT infrastructure to drive significant productivity gains and agility across their organizations," said CEO Jim Whitehurst in a statement.

Red Hat's year closes at the end of February. Total revenue in the fourth-quarter is expected to be between $289 million and $292 million.