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IT'S OFFICIAL: Red Hat Is The First Open Source Company To Top $1 Billion A Year

Red Hat CEO Jim WhitehurstRed Hat CEO Jim Whitehurst

Photo: AP

Red Hat announced $1.13 billion in annual revenue, up 25 per cent from a year ago.This officially marks the first time a company that makes 100% of its living from open source products topped the billion-dollar mark.

For the quarter ending February 29, Red Hat posted revenue of $297 million, up 21% year-over-year, and GAAP EPS of 18 cents, up 6%. Its quarterly non-GAAP EPS was 29 cents, up 12% from last year.

Analysts, on average, expected earnings of 27 cents per share on revenue of $291.2 million.

Shares are up over 7% to about $55 in after hours trading.

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