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Red Hat reports mixed Q4 before IBM merger



Red Hat delivered mixed fourth quarter financial results on Monday. The open-source software company – which IBM takes over in a $ 34 billion deal – reported a net income of $ 139 million, or $ 75 per share. Red Hat said non-GAAP fourth-quarter earnings were $ 1.16 per share. Turnover at $ 879 million, up 14 percent year-round.

Wall Street was looking for earnings of $ 1.01 per. Stock with $ 883.9 million in revenue.

Outbreak, Red Hat said the subscription revenue was $ 549 million. Most of the subscription revenue comes from infrastructure-related products, while application development-related technologies account for the rest. Red Hat said application development was 30 percent higher than last year. The company's Q4 training and service revenue came to $ 1

05 million, an increase of 18 percent from a year ago.

Red Hat CEO Jim Whitehurst noted in the comments made that Red Hat's total number of customers with active subscriptions over $ 5 million increased by 33% over the year. The key to this growth was an increase in Ansible and OpenShift customers, which he now said totaling more than 1,300 and 1,000 respectively at the end of the 2019 tax year. -transaction.


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