Red Hat (RHT) Tops Q3 EPS by 3c; CFO to Resign

Red Hat (NYSE: RHT) reported Q3 EPS of $0.61, $0.03 better than the analyst estimate of $0.58. Revenue for the quarter came in at $615 million, p 18% year-over-year or 17% in constant currency, versus the consensus estimate of $618.02 million.

Frank Calderoni notified Red Hat of his decision to step down as Executive Vice President, Operations and Chief Financial Officer of Red Hat, effective in late January 2017, to enable him to accept a chief executive officer position at another company.

“Enterprise and service provider customers continue to adopt a hybrid cloud strategy for developing, deploying and managing the life-cycle of their critical applications. Red Hat is uniquely positioned to address this need. In aggregate, customers utilizing our cloud-enabling technologies either on-premise or in the public cloud are spending more with Red Hat than customers that have not yet embraced our cloud-enabling technologies," said Jim Whitehurst, President and Chief Executive Officer of Red Hat.

Sees FY EPS of $2.27 and revenue of $2.397-$2.405 billion versus the consensus of $2.22 and $2.42 billion.

For earnings history and earnings-related data on Red Hat (RHT) click here.

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