Open-source solutions provider Red Hat has announced a surge in orders resulting in a 20 per cent jump in revenue for Q1 2011 compared with the same period last year.
Red Hat’s total revenue for the quarter was $209.1m (£139.5m), with subscription revenue for the quarter at $179.1m – both marking a 20 per cent increase year on year.
Net income for the quarter was $24.1m, compared with the $18.5m the company recorded 12 months ago.
"We had a strong start to our fiscal year with 20 per cent organic revenue growth and 28 per cent non-GAAP operating income growth," said Jim Whitehurst, president and CEO at Red Hat.
"We executed well and achieved a significant increase in the number of large deals booked year on year, including several with an initial consulting component, which we believe is a positive indicator of new project spending and future subscription billings."
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