Red Hat Is Stuck In Neutral as BTIG Questions Subscription Model [TheStreet.com]
RED HAT (RHT)
Last red hat earnings: 3/25 04:15 pm
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Source: TheStreet.com
The software company comes up short on quarterly revenue. Tony Owusu Sep 20, 2018 12:02 PM EDT Red Hat Inc. ( RHT ) isn't a good fit for investors Thursday, Sept. 20, following the company's earnings release as the stock dipped 6%. While the software company beat analysts' bottom-line estimates of 82 cents a share by 3 cents, it came up short on the top-line, reporting revenue of $822.7 million vs. expectations of $830 million. Red Hat gets the lion's share of its revenue from its subscription service to distributions of the Linux open-source operating system, as well as other products. That segment saw revenue jump 13%, but the $722.7 million in revenue generated in the quarter fell short of analysts' estimates of $724.1 million. While Red Hat's CEO isn't concerned about the soft revenue,
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