Red Hat results reveal open source growth

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Red Hat results reveal open source growth

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. 

US-based Red Hat logged revenue of US$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 US$28.9m, up from US$21.1m a year earlier.

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.” @ 2010 Incisive Media

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