RedHat's profit for the first quarter was $18.5 million, exceeding expectations

At noon on January 1, June 25, Beijing time, according to foreign media reports, Linux software company RedHat released its first quarter financial report for fiscal year 2010 on Wednesday. According to earnings reports, the net profit of RedHat increased from $17.3 million in the same period last year to $18.5 million, and earnings per share increased from 8 cents to 10 cents. In the first quarter, the operating profit margin of RedHat increased from 21.8% in the same period last year to 23.4%, higher than the expected 23%. Because RedHat usually signs a multi-year agreement with the customer, the ability to withstand the economic crisis

At noon on January 1, June 25, Beijing time, according to foreign media reports, Linux software company RedHat released its first quarter financial report for fiscal year 2010 on Wednesday. According to earnings reports, the net profit of RedHat increased from $17.3 million in the same period last year to $18.5 million, and earnings per share increased from 8 cents to 10 cents.

In the first quarter, Red Hat's operating profit margin rose from 21.8% in the same period last year to 23.4%, higher than expected 23%.

Red Hat has a long-term agreement with its customers, so it is more capable of resisting the economic crisis. James whitehuster, Red HatCEO, said Red Hat has lost only one major account, Oracle, in the past few years. He said that the Linux operating system of RedHat has eroded the market share of the SunSolaris operating system and JBoss has eroded the market share of Oracle middleware.

Excluding the one-time profit and loss program, RedHat's earnings per share for the first quarter was 15 cents, 14 cents higher than analysts expected. RedHat revenue increased by 11% to $0.174 billion, up from the Analyst's expectation of $0.172 billion.

RedHat expects earnings of 14 to 15 cents per share in the second quarter, with revenues of $0.178 billion to $0.18 billion. Analysts expected earnings per share and revenue for the second quarter of RedHat to 15 cents and $0.179 billion respectively. RedHat also estimated the operating profit rate for the second quarter to be 23%. (Zhixiang)