Red Hat Reports Q1 Earnings Beat
Red Hat (NYSE: RHT) on Thursday afternoon reported adjusted quarterly earnings of $1 per share, which beat the analyst consensus estimate of 86 cents. This is a 38.89% increase over earnings of 72 cents per share from the same period last year. The company reported quarterly sales of $934 million, which beat the analyst consensus estimate of $931.59 million. "Our large deal momentum remained strong, as we doubled the number of deals over $5 million and saw 15% growth in the number of deals over $1 million from the year-ago quarter," said Eric Shander, Executive Vice President and CFO.