Red Hat: The 1st billion-dollar open-source company?

A few months back Glyn Moody, noted open-source journalist, asked the question, “Why No Billion-Dollar Open Source Companies?” Jim Whitehurst, Red Hat’s CEO answered, “Red Hat could get to $5 billion in due course, but that this entailed ‘replacing $50 billion of revenue’ currently enjoyed by other computer companies. Guess what? Red Hat is on its way.

In its latest quarter, Red Hat’s total revenue was $219.8 million, an increase of 20% from the year ago quarter. Red Hat Enterprise Linux (RHEL) Subscription revenue for the quarter was $186.2 million, up 19% year-over-year. I guess Oracle’s attempt to snatch Red Hat’s business away with a re-branded RHEL really hasn’t worked.

Read more at ComputerWorld

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