Red Hat (NYSE:RHT) on Tuesday delivered strong third quarter results as it continued to ride along with the server and data center upgrade cycle.
The company reported fiscal third quarter earnings of $26 million, or 13 cents a share, on revenue of $235.6 million, up 21 percent from a year ago. Non-GAAP earnings were 20 cents a share. Wall Street was looking for earnings of 20 cents a share on revenue of $227.3 million.
Analysts were expecting a run-of-the-mill quarter and that’s pretty much what they got relative to expectations.
Among the key figures:
- Subscription revenue for the quarter was $198.8 million, up from $164.4 million a year ago.
- Training and services revenue was $36.7 million, up from $29.9 million a year ago.
- Research and development spending was $43 million, up from $71 million a year ago.
- Red Hat ended the quarter with $594.9 million in cash.