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Red Hat Inc. (RHT) Is Losing Ground Despite Q3 Results

Red Hat Inc. (RHT) reported third quarter EPS of $0.73 after the close Tuesday, up from $0.61 last year. Street expectations were for EPS of $0.71.

The company expects to report fourth quarter EPS of approximately $0.81 and full year EPS of approximately $2.02. The consensus estimates are for EPS of $0.75 and $2.78.

Red Hat dipped in early trade Tuesday, but settled into a range for the majority of the session. The stock closed down by 0.58 at $128.86. Red Hat is now down 5.88 on 217K shares after the bell.

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