Red Hat: More Turnover and Profit Thanks to Linux
Linux distributor Red Hat has reported increased turnover and profits in its interim report for the second quarter. The company mainly owes these promising figures to its Linux business.
The second quarter 2008 ended August 31, 2007 for Red Hat, whose business year ends February 29, 2008. Red Hat reported a turnover of US$ 127.3 in the second quarter, which is equivalent to a 28 percent increase compared to last year's figures, and seven percent up on the first quarter of 2008. Red Hat mainly owes its success to sales of software subscriptions of its enterprise Linux variant. Turnover of Red Hat Enterprise Linux totaled US$ 109.2 m, which is 29 percent up on the previous year's figures of US$ 84.9 m, and six percent up on the previous quarter. Net profits rose by 64 percent to US$ 18.2 m, compared with US$ 11 m in 2006. On a per share basis this means a dividend of US$ 0.09 compared with US$ 0.05 last year. Red Hat points to the more than 3000 applications that are now certified on the Red Hat platform.
Charlie Peters, Red Hat's Chief Financial Officer was also pleased with the development of operative profits and cash flow. "We continue to deliver strong operating profitability and cash flow". Peters sees the demand for Open Source solutions continuing to grow, and sees the need to invest in infrastructure in the interest of Red Hat's shareholders.
Parallel to the interim report, Peters had two personnel announcements to make. The previous head of the Red Hat Financial Division, Mark Cook, is being promoted to Vice President Finance and Controller; Paul Argiry will be taking over the position as Vice President and Treasurer. Cook joined Red Hat in 2004; Argiry's last position was as the Chief Financial Officer with Californian electronics corp., Jabil Circuit.
This is the third change to Red Hat's executive team in just a few days, with marketing boss Tim Yeaton having been replaced by Michael Chen. At the beginning of the week, Red Hat's shares had been downgraded from "outperforming" to "neutral" due to organizational and structural issues that started with the acquisition of middleware vendor Jboss.
Subscribe to our Linux Newsletters
Find Linux and Open Source Jobs
Subscribe to our ADMIN Newsletters
Support Our Work
Linux Magazine content is made possible with support from readers like you. Please consider contributing when you’ve found an article to be beneficial.
![Learn More](https://www.linux-magazine.com/var/linux_magazin/storage/images/media/linux-magazine-eng-us/images/misc/learn-more/834592-1-eng-US/Learn-More_medium.png)
News
-
NVIDIA Released Driver for Upcoming NVIDIA 560 GPU for Linux
Not only has NVIDIA released the driver for its upcoming CPU series, it's the first release that defaults to using open-source GPU kernel modules.
-
OpenMandriva Lx 24.07 Released
If you’re into rolling release Linux distributions, OpenMandriva ROME has a new snapshot with a new kernel.
-
Kernel 6.10 Available for General Usage
Linus Torvalds has released the 6.10 kernel and it includes significant performance increases for Intel Core hybrid systems and more.
-
TUXEDO Computers Releases InfinityBook Pro 14 Gen9 Laptop
Sporting either AMD or Intel CPUs, the TUXEDO InfinityBook Pro 14 is an extremely compact, lightweight, sturdy powerhouse.
-
Google Extends Support for Linux Kernels Used for Android
Because the LTS Linux kernel releases are so important to Android, Google has decided to extend the support period beyond that offered by the kernel development team.
-
Linux Mint 22 Stable Delayed
If you're anxious about getting your hands on the stable release of Linux Mint 22, it looks as if you're going to have to wait a bit longer.
-
Nitrux 3.5.1 Available for Install
The latest version of the immutable, systemd-free distribution includes an updated kernel and NVIDIA driver.
-
Debian 12.6 Released with Plenty of Bug Fixes and Updates
The sixth update to Debian "Bookworm" is all about security mitigations and making adjustments for some "serious problems."
-
Canonical Offers 12-Year LTS for Open Source Docker Images
Canonical is expanding its LTS offering to reach beyond the DEB packages with a new distro-less Docker image.
-
Plasma Desktop 6.1 Released with Several Enhancements
If you're a fan of Plasma Desktop, you should be excited about this new point release.