Red Hat Stock Falls As Revenue, Guidance Miss Analyst Estimates [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 ) stock fell in after-hours trading Wednesday after the enterprise software maker reported second-quarter revenue that missed estimates and forecast October quarter profit and sales below expectations. Red Hat said adjusted earnings were 85 cents a share, up 10% from a year ago, with revenue rising 14% to $823 million. Analysts expected earnings of 82 cents a share on sales of $829.5 million for the period ended Aug. 31. For the current quarter, Red Hat forecast revenue of $852 million vs. estimates of $852 million. The company said it expects adjusted profit of 87 cents a share. Analysts had projected 92 cents. While revenue missed estimates, the company said the number of deals greater than $5 million that closed during the August quarter doubled from the previous year. Red Hat stock fell 2% to 140.56 in after-hours trading on the stock market today . The stock edged up 0.3% to 143.15 in Wednesday's regular session. Red Hat stock was up 33% as of Wednesda
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