Red Hat profit misses analyst estimates
Sept 24 |
Sept 24 (Reuters) - Red Hat Inc, the world's largest distributor of Linux operating software, reported a lower-than-expected adjusted profit as costs rose.
Net income fell to $35 million, or 18 cents per share, in the second quarter, from $40 million, or 20 cents per share, a year earlier.
Excluding items, the company earned 28 cents per share.
Revenue rose 15 percent to $322.6 million.
Analysts on average had expected earnings of 29 cents per share on revenue of $322.1 million, according to Thomson Reuters I/B/E/S.
Red Hat shares were down 4 percent after closing at $57.54 on the New York Stock Exchange on Monday.
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