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Red Hat Inc. Q1 Profit Rises 13%

By RTTNews Staff Writer   ✉   | Published:   | Follow Us On Google News
rttnewslogo20mar2024

Red Hat Inc. (RHT) released earnings for its first quarter that climbed compared to the same period last year.

The company said its bottom line climbed to $92.18 million, or $0.50 per share. This was up from $81.46 million, or $0.44 per share, in last year's first quarter.

Analysts had expected the company to earn $0.50 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter rose 18.1% to $567.90 million. This was up from $481.00 million last year.

Red Hat Inc. earnings at a glance:

-Earnings (Q1): $92.18 Mln. vs. $81.46 Mln. last year.
-Earnings Growth (Y-o-Y): 13.2%
-EPS (Q1): $0.50 vs. $0.44 last year.
-EPS Growth (Y-o-Y): 13.6%
-Analysts Estimate: $0.50
-Revenue (Q1): $567.90 Mln vs. $481.00 Mln last year.
-Revenue Change (Y-o-Y): 18.1%

-Guidance:
Next quarter EPS guidance: $0.54
Next quarter revenue guidance: $587 - $593 Mln
Full year EPS guidance: $2.19 - $2.23
Full year revenue guidance: $2.38 - $2.42 Bln

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