Linux Distributor Red Hat Reports 20.6 Percent Rise In Revenue

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(Reuters) – Red Hat Inc (RHT.N) reported a 20.6 percent rise in quarterly revenue as the Linux operating system distributor benefited from higher demand for its products targeting hybrid cloud.

Net income rose to $96.9 million, or 53 cents per share, in the second quarter ended Aug. 31, from $58.8 million, or 32 cents per share, a year earlier.

The company’s revenue rose to $723.4 million from $599.8 million.

Article Source: Reuters

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