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03-28-2014, 02:50 PM #1Newbie
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Red Hat beats estimates; Q4, fiscal 2014 revenue both climb 15 percent
http://cdn-static.zdnet.com/i/r/libr...xjAw&upscale=1
Red Hat reported its fourth quarter and full fiscal year earnings after the bell on Thursday.
The open source giant reported a Q4 net income of $45 million, or 24 cents per share (statement). Those results are down slightly sequentially, but better than estimates not to mention earnings during the year-ago quarter.
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Read this
http://cdn-static.zdnet.com/i/r/libr...DjAG&upscale=1
Red Hat pushes open source cloud with OpenStack distro
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Non-GAAP earnings were 39 cents per share on a revenue of $400 million, an increase of 15 percent annually.
Wall Street was looking for earnings of 37 cents per share matched by revenue of $398.92 million.
For the 2014 fiscal year overall, Red Hat posted revenue of $1.53 billion, also up 15 percent year-over-year, with non-GAAP earnings of $1.49 per share.
Subscription figures were also on the upswing by 16 percent annually across the board. Final subscription revenue tallies rang up to $351 million for the fourth quarter and then $1.34 billion for the year.
Red Hat CEO Jim Whitehurst reflected on the positive outcome in prepared remarks:
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The fourth quarter was a strong finish to fiscal 2014, and it was highlighted by a record number of deals over $1 million and 24% growth in our billings proxy to $565 million. Continued strong demand for Red Hat’s technology portfolio drove strong growth in our core platform and application development technologies during the fourth quarter. In addition, our cross-selling efforts resulted in early wins for our emerging technologies, which address top CIO priorities that are driving the evolution of enterprise computing.
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For the current quarter, Wall Street expects Red Hat to return with earnings of 38 cents per share on a revenue of $415.90 million.
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