Red Hat Dropping After Earnings (RHT)

Shares of Red Hat, Inc.

are down around 3% in pre-market trading after reporting in-line earnings. Red Hat CEO Jim Whitehurst was positive on the economy, and his business in particular. "We are seeing expansion of green shoots," he said in an interview. Red Hat said it expects to earn 21 to 22 cents per share for its fourth quarter, while Wall Street expects 20 cents per share. Red Hat said it expects to have $234-$236 million in sales, while Wall Street expects $228 million. Red Hat reported earnings of 20 cents per share, inline with analyst estimates. Revenue rose 21% from last year to $236 million, $9 better than estimates.