Red Hat Exceeds Wall Street Professionals’ Expectations

Once again, Red Hat exceeded expectations and defied the declining economy by achieving better-than-Wall Street-expected financial results in the third quarter of this year. As one of the main factors of this success, the company’s management mentions Red Hat’s very large share in the migration market from Windows and UNIX systems.

Last Updated: 13 Dec 2023

Contrary to specialists’ and its own estimates, Red Hat achieved revenue of $194 million in this fiscal period (ended November 30), which is an 18% increase this year. According to previous estimates for this quarter, Red Hat was expected to achieve revenue of 188 million.

Net income was $16.4 million, or $0.08 per share, down from the same period last year ($24.3 million). The reason for this is, among other things, the resolutions of court cases that took place in the quarter ended. Currently, further increases are expected in future accounting periods.

More detailed information can be found here.

Red Hat on the Stock Market

Added: 13 Dec 2023

Currently, Red Hat Inc. is not listed on the Exchange after being taken over by IBM – Read the Press Release. In the first Investment Guide on Blogelist, I described my experience with IBM stock transfer between brokers, which you can read here.

(Linux.pl)

This article is a translation of the article: “🇵🇱Red Hat Przerasta Oczekiwania Specjalistów Z Wall Street” from the CentOS Centrum blog, currently in archived form, part of Blogelist, originally published on the Blogspot platform.

Full disclosure: As a Blog Founder, I have a small stake in the parent company, which is currently owning Red Hat, which is the subject of this article.

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