Red Hat Increases Their Income

Red Hat announced a financial results for the third quarter of fiscal year 2016 distinguished by increasing their income.

The company in North Carolina specialized in solutions open business source, and recently launched in Europe its open source plan , exposes excellent economic results, as this quarter has achieved increased 15% in revenues compared to the same period last exercise.

Thus, during the period which closed on November 30 Red Hat it has accumulated $ 524 million in revenue. These data show that the company “reinforces its leadership in open hybrid cloud thanks to the inclusion of new technologies and the launch of a strategic partnership with Microsoft and Azure Cloud , “ said President and CEO of Red Hat, Jim Whitehurst.

On the results of the third fiscal quarter of 2016 he has spoken Frank Calderoni, Executive Vice President of Operations and Chief Financial Officer of Red Hat, which has shown his joy for the fourth consecutive quarter of increased revenues. Frank Calderoni joined the company to fill the position of CFO in June , from Cisco.

Besides this, it also highlights the annual increase of 16% of subscription revenue, reaching the quarter of $ 547 million.


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