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LOS ANGELES, June 25 (Reuters) - Red Hat Inc RHT.N, the world's largest publicly traded provider of Linux software, said on Wednesday its quarterly net profit rose slightly as costs for stock-based compensation and taxes partially offset a 32 percent rise in revenue.
The Raleigh, North Carolina-based company said net income rose 6.8 percent to $17.3 million, or 8 cents per share, during its fiscal first quarter, from $16.2 million, or 8 cents per share, in the same period a year ago.
Excluding one-time items, the company earned 18 cents per share, up from 16 cents per share last year.
Wall Street analysts, on average, had been expecting earnings, excluding one-time items, of 18 cents per share, according to Reuters Estimates.
Analysts’ average net income forecast was 8 cents a share, according to Reuters Estimates.
Revenue rose 32 percent to $156.6 million, the company said. Analysts were expecting revenue of about $153.1 million, according to Reuters Estimates.
Red Hat's most lucrative product is its version of Linux for server computers, which rivals Microsoft Corp's MSFT.O Windows software and Unix software from Hewlett-Packard Co HPQ.N and International Business Machines Corp IBM.N.
The company distributes its software for free, but charges subscribers for bug fixes, upgrades, and help desk support. Microsoft, HP, and IBM consumers pay separately for software in addition to those services.
Red Hat shares rose 2 percent in extended trade to $22.75 after closing at $22.30 on the New York Stock Exchange.
(Reporting by Jennifer Martinez; editing by Jeffrey Benkoe, Richard Chang)
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