Wednesday, 23 March 2016 09:45

Red Hat annual revenue crosses US$2b for the first time Featured


Open source company Red Hat has recorded revenue of US$2.05 billion for its financial year which ended on February 29, marking another first for the company.

The figure represents an increase of 15% year-on-year.

The company recorded profit of US$180 million for the fiscal year, according to figures released in the US on Tuesday.

The fourth-quarter revenue amounted to US$544 million, an increase of 17% over the corresponding period in the previous financial year. Of this, 88% came from subscriptions, a percentage that also held for the entire financial year.

A media release from Red Hat quoted chief executive Jim Whitehurst as saying: "Enterprises increasingly adopting hybrid cloud infrastructures and open source technologies drove our strong results.

"The fourth quarter marked our 56th consecutive quarter of revenue growth, contributing to Red Hat’s first fiscal year crossing US$2 billion in total revenue."

The company has forecast revenue of between US$2.38 billion and US$2.42 billion for its next financial year.


26-27 February 2020 | Hilton Brisbane

Connecting the region’s leading data analytics professionals to drive and inspire your future strategy

Leading the data analytics division has never been easy, but now the challenge is on to remain ahead of the competition and reap the massive rewards as a strategic executive.

Do you want to leverage data governance as an enabler?Are you working at driving AI/ML implementation?

Want to stay abreast of data privacy and AI ethics requirements? Are you working hard to push predictive analytics to the limits?

With so much to keep on top of in such a rapidly changing technology space, collaboration is key to success. You don't need to struggle alone, network and share your struggles as well as your tips for success at CDAO Brisbane.

Discover how your peers have tackled the very same issues you face daily. Network with over 140 of your peers and hear from the leading professionals in your industry. Leverage this community of data and analytics enthusiasts to advance your strategy to the next level.

Download the Agenda to find out more


Sam Varghese

website statistics

Sam Varghese has been writing for iTWire since 2006, a year after the site came into existence. For nearly a decade thereafter, he wrote mostly about free and open source software, based on his own use of this genre of software. Since May 2016, he has been writing across many areas of technology. He has been a journalist for nearly 40 years in India (Indian Express and Deccan Herald), the UAE (Khaleej Times) and Australia (Daily Commercial News (now defunct) and The Age). His personal blog is titled Irregular Expression.



Recent Comments