"Shares of Linux software company Red Hat soared as much as 6.7 percent in after-hours trading this afternoon after the company announced quarterly results that blew past analyst expectations.
The Raleigh-based company's performance in its second fiscal quarter position it to exceed $1 billion in annual revenue.
Red Hat announced after the markets closed today that it generated net income of $56.5 million, or 29 cents per share, in the quarter that ended Aug. 31 after adjusting for stock compensation and amortization. That's up from $36.8 million, or 19 cents per share a year ago; analysts, meanwhile, were anticipating 25 cents per share.
Revenue for the quarter totaled $281.3 million, up 28 percent from a year ago. Analysts projected revenue would clock in at $271 million."
http://www.charlotteobserver.com/2011/09/21/2627588/investors-like-red-hats-results.html
The Raleigh-based company's performance in its second fiscal quarter position it to exceed $1 billion in annual revenue.
Red Hat announced after the markets closed today that it generated net income of $56.5 million, or 29 cents per share, in the quarter that ended Aug. 31 after adjusting for stock compensation and amortization. That's up from $36.8 million, or 19 cents per share a year ago; analysts, meanwhile, were anticipating 25 cents per share.
Revenue for the quarter totaled $281.3 million, up 28 percent from a year ago. Analysts projected revenue would clock in at $271 million."
http://www.charlotteobserver.com/2011/09/21/2627588/investors-like-red-hats-results.html
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