Red Hat’s Jolly Journey to the Billion-Dollar Club

It’s been clear for some time now that Red Hat is well on its way to being the first all-open source vendor to achieve billion-dollar revenues, but that doesn’t mean the FOSS community can’t cheer every time it gets a step closer. Take last week, for instance. Red Hat reported its second quarter results on Wednesday, and the prospect was nothing if not cheerful: Total revenue for the quarter was up 28 percent from a year ago, to $281.3 million, and subscription revenue was $238.3 million, also up 28 percent year-over-year.

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