3 Key Takeaways From Red Hat’s Quarter [The Motley Fool]
RED HAT (RHT)
Last red hat earnings: 3/25 04:15 pm
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Source: The Motley Fool
Here's what you need to know about Red Hat's strong earnings beat. Jamal Carnette, CFA ( TMFJcar ) Apr 2, 2018 at 9:06PM In a week in which investors watched tech stocks harshly sell off, Red Hat ( NYSE:RHT ) gave reason to believe the sector's run isn't over just yet. Shares of the open-source IT specialist jumped in response to its strong fourth-quarter results last week. Red Hat beat analyst estimates on both the top and bottom lines by growing sales 23% over the prior year to $772 million, its 64th consecutive quarter of growth, and reporting adjusted EPS of $0.91 per share versus expectations of $762 million and $0.81, respectively. And the stock's strong run is continuing as well. Red Hat shares have jumped by about 80% over the past year, including the 6% gain in response to the stronger-than-expected quarter. Because of the rally, shar
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