Red Hat Beats its Own Forecasts

Red Hat has reported financial results for its fiscal second quarter, which ended August 31, and the company continues to prove that a business model of supporting robust open source software can lead to remarkable success. In fact, as we predicted it would be, the company is emerging as the first ever billion dollar a year open source company. Red Hat’s total revenue for the quarter was $281.3 million, an increase of 28% from the year ago quarter. Subscription revenue for the quarter was $238.3 million, up 28% year-over-year.

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