Yet Another Robust Quarter for Red Hat

On its last quarterly earnings call, CEO Jim Whitehurst warned that Red Hat, which has lifted the pursuit of selling support for open source software to an art, wanted to lower guidance for analysts going forward. Yesterday afternoon, though, the company reported its first quarter 2011 financial results, which beat expectations. Earnings came in at 15 cents a share, or $24.1 million, compared to 12 cents a share expected by analysts, on total revenue of $209.1 million. Once again, Red Hat not only maintained its key subscribers but grew subscriptions and renewals.

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