Red Hat slides 12% after giving low guidance [CNBC]
RED HAT (RHT)
Last red hat earnings: 3/25 04:15 pm
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Source: CNBC
Red Hat stock fell after the company reported better-than-expected earnings for the first quarter of its 2019 fiscal year but lower-than-expected guidance on Thursday. The stock fell more than 12 percent in Friday trade. Here's how the company performed: Earnings: Excluding certain items, 72 cents per share, vs. 69 cents per share as expected by analysts, according to Thomson Reuters. Revenue: $813.5 million, vs. $807.5 million as expected by analysts, according to Thomson Reuters. As a whole, the enterprise software company said in a statement that revenue rose 20 percent year over year in the quarter. Red Hat saw a 48 percent increase in the number of deals above $1 million that it closed during the quarter, CEO Jim Whitehurst said on a Thursday conference call with analysts. Most of Red Hat's revenue comes from subscriptions, and they yield more gross profit than training and services at the company. Subscription revenue in the quarter gr
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