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Red Hat Inc. (RHT) Jumped After Q2 Profit Beat & Guidance Increase

Red Hat Inc. (RHT) reported second quarter adjusted EPS of $0.55 after the bell Wednesday, up from $0.47 a year ago. Analysts expected EPS of $0.54. The company now expects to report full year adjusted EPS of $2.23 to $2.25, up from prior expectations of $2.19 to $2.23. The consensus estimate is for EPS of $2.21. Third quarter adjusted EPS is expected to be about $0.58. Street expectations are for EPS of $0.57.

Red Hat gapped open sharply higher Thursday, but pared its gains during the first half of the session. The stock closed up by 2.98 at $80.02 on strong volume. Red Hat jumped to a 3-month high.

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