Red Hat profit misses analyst estimates
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.
- Housing, jobs data weaken, but overall economic picture still upbeat
- Target cyber breach hits 40 million payment cards at holiday peak |
- 'Duck Dynasty' anti-gay fallout sparks debate on religion, tolerance
- UPDATE 3-Saab wins Brazil jet deal after NSA spying sours Boeing bid
- Zuckerberg to sell Facebook shares worth about $2.3 billion |