Red Hat Q2 Revenue up 21% YoY

Red Hat, Inc. (NYSE: RHT), the world´s provider of open source solutions, has announced financial results for the second quarter of fiscal year 2018 ended August 31, 2017, the company said.

Total revenue for the quarter was USD 723 million, up 21% in USD year-over-year, or 20% measured in constant currency.

Subscription revenue for the quarter was USD 638 million, up 20% in USD year-over-year. Subscription revenue in the quarter was 88% of total revenue.

GAAP operating income for the quarter was USD 135 million, up 64% year-over-year. After adjusting for non-cash share-based compensation expense, amortization of intangible assets, and transaction costs related to business combinations, non-GAAP operating income for the second quarter was USD 191 million, up 40% year-over-year.

For the second quarter, GAAP operating margin was 18.6% and non-GAAP operating margin was 26.4%. Non-GAAP references in this release are detailed in the tables below.

GAAP net income for the quarter was USD 97 million, or USD 0.53 per diluted share, compared with USD 59 million, or USD 0.32 per diluted share, in the year-ago quarter.

Red Hat is the world´s provider of open source software solutions, using a community-powered approach to provide reliable and high-performing cloud, Linux, middleware, storage and virtualization technologies. Red Hat also offers award-winning support, training, and consulting services. As a connective hub in a global network of enterprises, partners, and open source communities, Red Hat helps create relevant, innovative technologies that liberate resources for growth and prepare customers for the future of IT. Learn more at http://www.redhat.com.