Red Hat raises guidance after good Q2

Revenues up 13 per cent

Red Hat rode on the back of rising cloud subscriptons to turn in a good Q2.

Revenues for the quarter ended 31 August, 2015 were up 13 per cent year to $504m ($445,9m) – and 21 per cent on a current currency basis. Net income was $51.8m ($6.8m)

The open source vendor reports an annualised run-rate of $100m for its certified cloud and service provider program and a run-rate of $2bn for overall revenues.

Subscription revenue for the quarter was $363m for infrastructure software and $79m for apps development tools and other emerging technologies.

Red Hat has raised full year revenue guidance a tad from $2.034bn to $2.044bn. ®

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