Open saucy Red Hat’s third Quarter results were rather good.
Its third quarter total revenue of $615 million, up 18 per Cent year-over-year. Its third quarter total subscription revenue was $543 million, up 19 per cent year-over-year or 18 per cent in constant currency.
Jim Whitehurst, President and Chief Executive Officer of Red Hat said that enterprise and service provider customers were adopting a hybrid cloud strategy for developing, deploying and managing the life-cycle of their critical applications.
“Red Hat is uniquely positioned to address this need. In aggregate, customers utilizing our cloud-enabling technologies either on-premise or in the public cloud are spending more with Red Hat than customers that have not yet embraced our cloud-enabling technologies.
Total revenue for the quarter was $615 million, up 18 per cent in U.S. dollars year-over-year, or 17 per cent measured in constant currency.
GAAP operating income for the quarter was $81 million, up 17 per cent year-over-year. After adjusting for non-cash share-based compensation expense, amortisation of intangible assets, and transaction costs related to business combinations, non-GAAP operating income for the third quarter was $143 million, up 16 per cent year-over-year. For the third quarter, Gaap Operating Margin was 13.1 per cent and non-GAAP operating margin was 23.3 per cent.
GAAP net income for the quarter was $68 million compared with $47 million in the same quarter last year.
The outfit is predicting that will make $2.397 billion to $2.405 billion in US dollars and its GAAP operating margin is expected to be approximately 13.5 per cent and non-
GAAP operating margin is expected to be approximately 23 per cent.
For the fourth quarter revenue is expected to be $614 million to $622 million.