Open source provider Red Hat announced first quarter revenue of $174m (£107m), up 11 per cent on the same quarter last year. Subscription revenue was also up 14 per cent year-on-year, at $148m (£91m).
Net income for the quarter was $18.5m (£11.4m), up slightly from $17.3m (£10.6m) in the year-ago quarter.
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"Our growth is driven in part by our ability to help enterprise customers save money in a challenging IT spending environment, driving new capabilities and efficiencies into customers' mission-critical infrastructures,” said Red Hat president and chief executive Jim Whitehurst.
Red Hat executive vice president and chief financial officer Charlie Peters added: “In the quarter, we repurchased $47m of common stock while strengthening our balance sheet with a five per cent sequential increase in cash and investments.”
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