Linux demand fuels rise in Red Hat profit
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This fourth priority&#39;s main focus has been improving or obtaining CRM and ERP software for the past year and a half. Red Hat&#39;s quarterly profit rose on firm demand for its updates and services for Linux, the distributor of Linux software said on Monday.
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Red Hat Enterprise Linux 5 helped both revenue and profit, the company said.
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Shares of software maker Red Hat Inc. jumped more than 8 percent midday Tuesday on an upgrade from an analyst who was enthusiastic about the company&#39;s hefty market share in an attractive niche.
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Microsoft invited to improve Red Hat turned in a healthy first quarter amid signs it's evolving into a multifaceted operation, thanks to growing sales of JBoss and use of channel partners.â¦
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A Microsoft Corp. division that competes head-to-head with the open-source Linux operating system posted sharply improved financial results, helping to fuel a strong quarter for the Redmond software company.
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Demand for Linux-based laptops drives the Dell announcement.
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Government support for open source is helping Red Hat grow its business in the Asia-Pacific region.
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Ubuntu and Red Hat are the most used Linux distributions among the 35,000 members of content-management vendor Alfresco's community, the company found in its second survey of trends in enterprise open-source software usage.
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The large maker of business software applications said its third-quarter profit rose 10 percent on an increase in license sales.
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Red Hat (NOVL:Nasdaq - news - research) got its second upgrade in two week Tuesday, and promptly leaped northward. In recent trading, shares of the Linux Vendor were up $1.42, or 10.6%, to $14.84 in heavy volume.
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DECEMBER 23, 2004  - Red Hat Inc. reported a 55% increase in third-quarter revenue on the strength of an 80% increase in software subscription revenue.
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InfoWorld - Amid uncertainty about the greater economy, technology companies are looking good to investors.&#160;Strong earnings from Red Hat this week&#160;and Oracle last week, continued excitement over mergers and acquisitions, and solid forecasts for global component sales have been pushing shares of tech vendors up.
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Two companies specializing in Linux-based cluster systems for high performance computing have drawn the interest of investors, giving each a substantial financial boost.
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CRN India: Red Hat aims to more deeply penetrate the enterprise by launching its first Linux distribution based on the Linux 2.6 kernel.
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Amid uncertainty about the greater economy, technology companies are looking good to investors.Â Strong earnings from Red Hat this weekÂ and Oracle last week, continued excitement over mergers and acquisitions, and solid forecasts for global component sales have been pushing shares of tech vendors up.
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(InfoWorld) - Amid uncertainty about the greater economy, technology companies are looking good to investors.Â Strong earnings from Red Hat this weekÂ and Oracle last week, continued excitement over mergers and acquisitions, and solid forecasts for global component sales have been pushing shares of tech vendors up. Over the last week, the share prices of a variety of bellwether tech companies have hit 52-week highs. Shares of eBay, AT&T, and Verizon closed at their highest levels in a year, while Apple and Google hit all-time highs. IT investors boosted Red Hat shares, which closed Wednesday at $19.89, up by $1 after the company's quarterly results announcement on Tuesday. Solid sales and efforts to contain costs helped lift net income to $19.1 million, up from $12 million from one year earlier. Revenue rose 28 percent for the period to $127.3 million. Growth for middleware vendorÂ JBoss, which Red Hat bought last year, was not as good as hoped for, but revenue figures indicate that the company's core business is doing better than expected, said brokerage JMP Securities in a research note. Products shipped this quarter included the JBoss Enterprise Application Platform 4.2. Shares of Apple, flying high mainly on excitement over its dominance in the music device market and the recent launch of iPhone, hit an all-time high Monday after the brokerage unit of Citigroup raised its price target for the company to $185 from $160. Citigroup Global Markets noted that in addition toÂ Apple's mobile device business, sales of Macs are exceeding prior estimates. Apple shares rose by $4.13 Monday to hit $148.28 and drifted upward during the week. EMC also was the subject of positive remarks from analysts with both Citigroup and brokerage Bear Stearns & Co. raising their ratings on the company. Both brokerages were pleased with EMC's continued ownership inÂ VMware, part of which was spun off in an initial public offering in August. VMware shares started trading at $57, moving upward to $80 this week. The company is gaining on the strength of its dominance in virtualization technology, which allows multiple processes to run more efficiently on servers and is increasingly popular as data centers seek to cut costs. EMC closed Wednesday at $82.36, $25 higher than where it was trading at mid-quarter. M&A activity, which has stoked investor excitement this year as the number of deals hits the highest level the market has seen in years, continued this week with EchoStar Communications announcing Tuesday that it plans to buy Sling Media. Sling offers technology that allows TV-watching over the Internet. EchoStar shares jumped by $2.92 to close at $44.14 Tuesday on the news. Industry watchers also look at forecasts for component sales, to get a sense of how market demand will play out over the next few quarters. iSuppli reduced its forecast of global semiconductor revenue growth in 2007 this week to 3.5 percent, down from its prior estimate of a 6 percent increase. But while the chip forecast slipped, the estimate for shipments of electronic equipment using semiconductors has improved, iSuppli said. The market research company raised its forecast of 2007 electronic equipment revenue growth to 6.8 percent, up from 6 percent before.
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Open-source champion Red Hat has taken its new CFO from the traditional business world. Charles Peters, who becomes executive vice president and CFO of the Linux-based firm, has a solid background as a qualified