Red Hat Has a Great Quarter CEO Leaves
The company's numbers were great, but the CEO is replaced by the former Delta COO.Red Hat announced outstanding financial results for its third fiscal quarter, which ended Nov. 30. How outstanding? The Linux company's revenue for the quarter jumped to $135.4 million. That is an increase of 28 percent from the equivalent 2006 quarter and 6 percent from the second quarter of this year. Drilling down, Red Hat Enterprise Linux subscriptions represented the bulk of Red Hat's income. The company's total RHEL income was $115.7 million. That brings RHEL's income up 30 percent year-over-year and 6 percent sequentially.
As Red Hat CEO Matthew Szulik said during the earning call, "Analyst reports keep saying that Windows is growing faster than Linux in the server space, but that's not what our market penetration is showing us. That's not CEO rhetoric. That's economic fact."