Red Hat Inc. (RHT: Quote) reported that its second-quarter net income declined to $35.01 million, or $0.18 per share from $39.97 million or $0.20 per share, in the year ago quarter.
Non-GAAP net income for the quarter was $54.9 million, or $0.28 per share, as compared to $56.5 million, or $0.29 per share, in the year ago quarter. The year ago quarter would have been $0.28 per share excluding a discrete tax benefit of $2.1 million, or approximately $0.01 per share. Analysts polled by Thomson Reuters expected the company to report earnings of $0.29 per share for the quarter. Analysts' estimates typically exclude special items.
Total subscription, training and services revenue for the quarter rose to $322.56 million from $281.32 million in the prior year quarter. Twenty seven analysts had consensus revenue estimate of $322.12 million for the quarter.
"Our double-digit growth was driven by demand for Red Hat's open source technologies that are key to creating innovation, scale and flexibility in our customers' data centers and their businesses," stated Jim Whitehurst, President and Chief Executive Officer of Red Hat.
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by RTT Staff Writer
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