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24 Sep 2009
The open source market is continuing to tick over nicely, despite the downturn, as Linux pioneer Red Hat unveiled another set of expectation-busting results.
New York-listed Red Hat logged revenue of $183.6m (£113m) for its fiscal second quarter to 31 August, up 12 per cent year on year, as subscription sales swelled 15 per cent.
Net profit for the quarter hit $28.9m, up from $21.1m a year earlier.
Further reading
Red Hat chief executive Jim Whitehurst said end users were moving ahead with high-value solutions, and that this had contributed to a better-than-expected revenue haul in the quarter.
Chief financial officer Charlie Peters, added: “We are particularly pleased with the growth of the current portion of deferred revenue combined with the lengthening of our average subscription duration.”
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