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Red Hat Revenue Rises 15%

|Includes:Red Hat, Inc. (RHT)

Originally published at www.seclive.com

Filing in Focus: Red Hat 8-K, March 27, 2014

Red Hat, Inc. (NYSE:RHT) announced its fourth quarter and full year financial results for 2013, reporting a 15% increase in quarterly revenue. The open source software company posted quarterly revenue of $400M, a 15% increased from a year ago, while annual revenue increased similarly by 15% to $1.53B. Adjusted quarterly earnings fell from $81M and $0.42 per share to $75M and $0.39 per share, while adjusted annual earnings increased from $240M and $1.23 per share to $285M and $1.49 per share. Operating cash flow increased on both a quarterly and annual basis with subscription revenue increasing by 16% in both fourth quarter and full year. Executive VP and CFO Charlie Peters remarked that the company delivered strong revenue growth while investing in new opportunities that will help drive future growth, particularly in open hybrid cloud computing.

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Stocks: RHT