Posted by: ITKE
Red Hat, perhaps driven by the release of the latest version of its flagship operating system in March, today announced some positive financial results for the company to the tune of a 7% increase in subscription revenue from last month.
Total revenue for the quarter was $118.9 million, an increase of 42% from one year ago. Subscription revenue was $103.0 million, up 44% year-over-year.
Net income for the quarter was $16.2 million, compared with $13.8 million this time in 2006.
According to Red Hat, other quarter highlights included:
- Red Hat held its third annual Summit for customers, partners and the community.
- Red Hat launched Red Hat Enterprise Linux 5 in mid-March.
- Red Hat launched its service oriented architecture strategy, including the addition of data management applications
A live webcast of Red Hat’s results will begin at 5:00 pm ET today and can be accessed by the general public at Red Hat’s investor relations website at http://investors.redhat.com.
It seems like only yesterday analysts and soap box denizens were calling for the doom of Red at in the face of Oracle Linux and the Microsoft-Novell partnership. The red fedora remains unbloodied and unbowed.