Red Hat Reports $823 Million in Revenue for Second Quarter 2019

Oct 01, 2018

Strong performance for cloud and container products leads to a 14% increase over last year.

Red Hat has evolved beyond its original role as a Linux vendor and is now positioned as a cloud player that offers complete solutions to enterprise customers. The company has been expanding its product portfolio to help customers embark on their cloud native and digital transformation journey.

Red Hat’s aggressive repositioning is reflected in its revenue. The company earned the total revenue of $823 million, up 14% year-over-year, in the second quarter of the fiscal year 2019.

“The expansion of our technology portfolio has increased our strategic importance with customers, which is evidenced by the number of deals over five million dollars in the second quarter more than doubling year-over-year,” said Jim Whitehurst, President and Chief Executive Officer of Red Hat. “Customers continue to prioritize their digital transformation initiatives, and they are adopting Red Hat’s hybrid cloud enabling technologies to modernize their applications and drive greater efficiency and effectiveness in their business.”

Which technologies segments are growing within Red Hat is apparent from the breakout of the revenue. Subscription revenue remains the largest earnings at $527 million, but it registered a mere 8% in year-over-year growth. On the other hand, revenue from emerging technologies (read cloud and containers) was $196 million for over 31% year-over-year growth.

If Red Hat keeps up this pace, it might touch the $4 billion annual revenue mark in 2019.

Related content

  • Q3 2009: Blade Servers and x86 Leading Server Market

    With a 1.2% growth, blade servers are leading all others in the market segment that may have made strides in the past. But the IDC research firm sees light at the end of the tunnel: since the bleak period that ended 2008, the revenue curve for the worldwide server market is trending upwards again.

    more »
  • Red Hat: Revenue Up, Net Income Down

    Linux enterprise Red Hat reports a revenue of $166 million in its fiscal year ending February 28, 2009. The fourth quarter revenue was $16 million.

    more »
  • Q4: Hewlett Packard’s Revenues and Turnover Grow

    HP today announced financial results for its fourth fiscal quarter ended October 31 2007, with net revenue of US$ 28.3 billion, up 15% from a year earlier and up 11% when adjusted for the effects of currency.

    more »
  • Red Hat Fiscal Year End Revenues Reported Over 900 Million

    "With record bookings and billings in the fourth quarter, we are on a run rate to become the first pure-play open source company to achieve a billion dollars in revenues next fiscal year, a milestone achievement for Red Hat and the open source community," stated Jim Whitehurst, President and Chief Executive Officer of Red Hat.

    more »
  • Red Hat Reports Positive Third Quarter Earnings

    Reporting $236 million in growth revenue and $198 million in subscription revenue Red Hat's third quarter earnings are up 21 percent over last year.

    more »
comments powered by Disqus

Issue 231/2020

Buy this issue as a PDF

Digital Issue: Price $12.99
(incl. VAT)

GPU Computing

News

Tag Cloud

Administration Community Desktop Events Hardware Linux Linux Pro Magazine Mobile Programming Software Ubuntu Web Development Windows free software open source