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Red Hat Inc. (RHT) Leaped On Stronger Than Expected Q3 Earnings

Red Hat Inc. (RHT) reported third quarter EPS of $0.48 after the bell Thursday, up from $0.42 in the prior year. The consensus estimate was for EPS of $0.47. The company expects to report fourth quarter EPS of $0.47 and full year EPS of $1.86. Analysts are expecting EPS of $0.48 and $1.85.

Red Hat gapped open sharply higher Friday, but gave back some ground during the first hour of trade. The stock was range-bound for the remainder of the session and closed up by 2.54 at $81.40 on the highest volume in 8 1/2 months. Red Hat jumped to a 2-week high.

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