Red Hat Beats Q3 Expectations, Shares Surge

Red Hat Inc RHT announced financial results Thursday for its fiscal year 2015 third quarter ended November 30, 2014. Total revenue for the quarter was $456 million, above estimates of $451.39 million and an increase of 15 percent in U.S. dollars from the year ago quarter, and 18 percent measured in constant currency.

Subscription revenue for the quarter was $395 million, up 15 percent in U.S. dollars year-over-year, or 18 percent measured in constant currency.

Non-GAAP net income for the quarter was $79 million, or $0.42 per diluted share, above estimates of $0.40. $81 million, or $0.42 per diluted share, was reported in the year ago quarter.

“Our strong Q3 results marked the eleventh straight quarter of mid-to-high teens revenue growth as we continued to reinforce and expand our strategic relationship with our customers,” said Jim Whitehurst, President and Chief Executive Officer of Red Hat.

Red Hat traded at $67.05 in the after-hours session, up 9 percent.

Posted In: EarningsNewsAfter-Hours Center
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