Subscription revenue up 21% on year ago quarter
Red Hat has reported revenues of $235.6m for the third quarter of 2010, an increase of 21.3% compared to $194.3m for the same period last year.
Revenue from subscription rose to $199m from $164.4m, and training and services revenue increased to $37m, compared to $30m for the same quarter previous year.
For the quarter ended 30 November 2010, gross profit increased to $196m from $165m, and operating income increased to $38m, compared to $20m for the same quarter last year.
The company has posted a net income of $26.1m for the third quarter of 2010, an increase of 59% compared to $16.4m for the same period last year.
For the third quarter of 2010, the company’s diluted earnings per share increased to $0.13 from $0.08.
Red Hat president and CEO Jim Whitehurst said strong market demand and sales execution, combined with a compelling value proposition, led to organic billings growth of over 20%, or $262m.
"In Q3, we were particularly proud that Red Hat was recognised by CIOs for the seventh consecutive year as one of the top IT vendors delivering value according to CIO Insight Magazine Vendor Value survey," Whitehurst said.