Red Hat Revenue, Profit Guidance Miss Expectations; Shares Tank [Investor's Business Daily]
RED HAT (RHT)
Last red hat earnings: 3/25 04:15 pm
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Source: Investors Business Daily
Related news Red Hat ( RHT ) Thursday reported fiscal first-quarter revenue and profit that topped estimates, but its current-quarter guidance missed expectations. Shares plunged in extended trading. X Red Hat said adjusted earnings were 72 cents a share, up 28% from a year ago, with revenue rising 20% to $814 million, topping analyst estimates. A year earlier, the Raleigh, N.C.-based company earned 56 cents a share on sales of $677 million. Analysts expected the enterprise-software maker to report earnings of 68 cents on sales of $807 million for the period ended May 31. For the current quarter, Red Hat forecast revenue of $826 million vs. estimates of $855 million, up 18% from a year earlier. The company said it expects adjusted profit of 81 cents a share. Analysts had projected 89 cents a share. The company lowered its full-year, fiscal 2019 revenue outlook, citing currency exchange rates. "We continue to expect strong demand for our hybrid cloud enabling technologies,
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