Red Hat deliver solid revenues in Q1

Linux specialist Red Hat has delivered strong numbers for its first quarter bolstered by decent subscriptions and services revenues. For the three months ended 31 May revenues increased by 20% to $209.1m with subscription revenue also going up by the same percentage year-on-year to $179.1m. Non-GAA

Linux specialist Red Hat has delivered strong numbers for its first quarter bolstered by decent subscriptions and services revenues.

For the three months ended 31 May revenues increased by 20% to $209.1m with subscription revenue also going up by the same percentage year-on-year to $179.1m. Non-GAAP operating income increased by 28% to $52m.

Jim Whitehurst, president and CEO of Red Hat, said that it had managed to end the quarter sealing a couple of significant deals, which couldn't be revealed due to customer confidentiality, and things were looking healthy as it moved into its second fiscal quarter.

"Our top 25 deals that were up for renewal in the quarter renewed and not only renewed, but they did so with a total value at over 120% of the original value," he said.

"We experienced solid demand in all major geographies and across all our product suites," he added.

At the same time the vendor has launched a channel portal to encourage its dealers to use more of the vendor's  tools. 

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