Red Hat Q1 Results Top Estimates

(RTTNews) - Red Hat, Inc. (RHT), the world's largest seller of Linux software, reported net income for the first quarter of $48.1 million or $0.26 per share, compared with $37.7 million or $0.20 per share for the year-ago quarter.

Excluding items, adjusted net income for the first quarter was $81.5 million or $0.44 per share, as compared to $64.2 million or $0.34 per share in the prior year quarter.

Total revenue for the first quarter rose 14% to $481.00 million from $423.75 million in the same quarter last year.

Analysts polled by Thomson Reuters expected the company to earn $0.41 per share on revenue of $472.59 million for the first quarter. Analysts' estimates typically exclude special items.