Red Hat boosts net income in Q3
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Linux vendor Red Hat increased its third-quarter revenue and profit thanks to an 80% increase in software subscription revenue, the company said.
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The personal computer maker said its net income increased to $733 million, benefiting from lower costs for disk drives, microprocessors and other components.
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US-based Red Hat Inc., the world&#39;s top distributor of open-source Linux software, expects its international business to increase to half its sales within 12 months, an executive said on Tuesday.
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InfoWorld - The release of Red Hat Enterprise Linux 5 in March should strengthen Red Hat&#39;s lead in the open-source software market and fend off challenges from Oracle, Microsoft, and Novell, an industry analyst said.
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Rise in Q3 income bolstered by BellSouth acquisition and iPhone.
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Red Hat (nasdaq: RHAT - news - people ) reported strong fiscal third-quarter earnings but revenue missed forecasts. In Wednesday after-hours trading, shares of Red Hat were down $1.00, or 6.6%, to $14.07.
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Booming sales of server and mobile-computing microprocessors push third-quarter revenue and net income beyond earlier guidance. By Darrell Dunn.
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Third-quarter profit jumped 77 percent, driven by growing sales of data storage software and hardware as well as a hefty gain from the sale of an ownership stake in VMware.
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Technology industry bellwether IBM has reported a healthy rise in net income in the third quarter, but its overall results were hampered by a $320m legal settlement related to its employee pension plan.
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Shares of Red Hat Inc. jumped 10 percent Friday, one day after the open source software distributor announced a rise in third-quarter earnings and the appointment of a new chief executive.
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Microsoft said last week that its first-quarter net income rose 11% and revenue 12% because of strong server-software demand and steady sales of PCs that run its products.
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The worldwide market for computer servers has posted its sixth consecutive quarter of growth, as revenues from Linux servers topped $1 billion in the third quarter and IBM and Hewlett-Packard Co.
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AT&amp;T&#160;reported net income of $3.1 billion for the third quarter of 2007, up from $2.2 billion a year earlier, largely due to its&#160;acquisition of BellSouth.
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Plus: Linux demand lifts Red Hat profit...Strong sales of phones, other gadgets boost PalmOne profit...Lawson expects quarterly loss.
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The online retailer announced Tuesday that its second-quarter net income increased more than threefold, with revenue up 35 percent.
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VMware, reporting its first financial results since its I.P.O., said third-quarter profit more than tripled on demand for software that makes computers more efficient.
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Internet security company Check Point Software Technologies Ltd. said Monday that third-quarter net income rose to &#36;66.8 million, or 26 cents a share, from &#36;58.4 million, or 23 cents a share a year earlier, paced by a 25 percent increase in licensing revenue.