Red Hat post improved profits

Red Hat post improved profits

Linux Distributor Red Hat has come out with their latest revenue reports and the company has posted a 45 per cent rise in third-quarter revenues.

This would satisfy investors who were worried that the company was losing customers to Oracle which has offered support for Red Hat Linux at half the price charged by them.

The company reported that the revenue in the three months to the end of November was $105.8 million. This is an improvement from $73.1 million in the same period last year.

Red Hat as a result gained at the stock market as its share price rose by nearly 14 per cent to $20.21 in after-hours trading.

Market analysts believe that it is too early to see the damage caused by the recent announcement by Oracle.