Red Hat breaks through $1bn revenue barrier

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Red Hat breaks through $1bn revenue barrier

Simon Quicke

Open source specialist Red Hat has broken through the $1bn revenue mark with the channel a key factor in the firm's success.

The results for the full fiscal year ended 29 February saw the firm reach $1.13bn, a 25% year-on-year increase, and net income rose to $146.6m from $107.3m twelve months earlier.

Explaining just how it had managed to get to the $1bn milestone the CEO of Red Hat Jim Whitehurst had a special mention for its partners.

"Our investments to expand our geographic sales footprint and add sales people with targeted industry and product knowledge has accelerated our growth," vhe said.

He added that the technology was being used by more customers that wanted to rearchitect their datacentres as they moved towards the cloud.

An increase in the number of large deals helped the vendor drive the business forward in its fourth quarter.

Charlie Peters, executive vice president and CFO at Red Hat, said that those large deals had helped it grow organically by 25% in terms of revenue.

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