March 26, 2018 / 8:37 PM / in 4 months

Linux distributor Red Hat reports 23 percent rise in quarterly revenue

(Reuters) - Red Hat Inc (RHT.N) reported a 23 percent rise in quarterly revenue as the Linux operating system distributor benefited from robust demand for its hybrid cloud products.

Hybrid cloud services let customers run key business data on private, internal networks along with consumer-facing public cloud systems.

The company reported a net loss of $12.6 million, or 7 cents per share, in the fourth quarter ended Feb. 28, compared to a profit of $65.8 million, or 36 cents per share, a year earlier.

Red Hat’s fourth quarter results included a one-time tax charge of $123 million related to recently enacted U.S. tax laws.

Total revenue rose to $772.3 million from $628.8 million.

Reporting by Arjun Panchadar in Bengaluru; Editing by Shounak Dasgupta

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