Red Hat revenues exceed a billion dollars

Posted by: admin under Public

Red Hat has recorded an annual revenue of a billion dollars with its latest fourth quarter results, making it the first “pure play” open source company to make a billion dollar revenue in one year. The company reported a fourth quarter revenue of $297 million, up 21 per cent compared to the same quarter a year before. This brought it to a fiscal year revenue of $1.13 billion, up 25 per cent year on year. In terms of profit, Red Hat reported a net income of $36 million for the quarter, down from the previous quarter’s $38.2 million, but up from the quarter a year ago at $33.5 million. Over the past six years, Red Hat has steadily increased it’s quarter on quarter revenue; for example, in the first quarter of 2007, it had a $84 million revenue and made $13.8 million profit.

Full story