Red Hat, Inc. (RHT) Tops Q1 EPS by 1c; Issues Light FY15 EPS Outlook

(Updated - June 18, 2014 5:22 PM EDT)

(Updated - June 18, 2014 4:14 PM EDT)

Red Hat, Inc. (NYSE: RHT) reported Q1 EPS of $0.34, $0.01 better than the analyst estimate of $0.33. Revenue for the quarter came in at $424 million versus the consensus estimate of $413.97 million.

“Our strong start to FY15 is a direct result of our ability to consistently deliver meaningful value to enterprise customers,” stated Jim Whitehurst, President and Chief Executive Officer of Red Hat. “We now count 94% of the Fortune 500 and 90% of the Fortune Global 500 as customers. These are some of the most sophisticated IT organizations in the world, and many continue to increase their purchases from Red Hat to modernize their IT infrastructure with cloud enabling technologies. As evidence of this demand and Red Hat’s strong market position, we closed a record number of first quarter deals of a million dollars or more.”

"“Our strong start to FY15 is a direct result of our ability to consistently deliver meaningful value to enterprise customers,” stated Jim Whitehurst, President and Chief Executive Officer of Red Hat. “We now count 94% of the Fortune 500 and 90% of the Fortune Global 500 as customers. These are some of the most sophisticated IT organizations in the world, and many continue to increase their purchases from Red Hat to modernize their IT infrastructure with cloud enabling technologies. As evidence of this demand and Red Hat’s strong market position, we closed a record number of first quarter deals of a million dollars or more.”

Red Hat said it sees FY15 adjusted EPS of $1.52 to $1.54, versus the consensus at $1.55. Revs expected at $1.76 to $1.79 billion wit the Street at $1.75 billion.

The company sees Q2 adjusted EPS of about $0.38 and revs of $432 - $436 million. The Street is at Q2 EPS of $0.38 and revs of $426.6 million.

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

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