June 18, 2014 / 8:15 PM / 3 years ago

Red Hat 1st-qtr results beat estimates on subscription growth

June 18 (Reuters) - Red Hat Inc, the world’s largest commercial distributor of the Linux operating system, reported better-than-expected adjusted profit and revenue for the first quarter, helped by growth in subscriptions.

Net income fell to $37.7 million, or 20 cents per share, in the quarter ended May 31, from $40.4 million, or 21 cents per share, a year earlier.

Excluding items, the company earned 34 cents per share beating analysts’ expectations of 33 cents per share, according to Thomson Reuters I/B/E/S.

Revenue rose 17 percent to $423.8 million, above Wall Street estimate of $414 million. (Reporting by Soham Chatterjee in Bangalore; Editing by Maju Samuel)

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