Red Hat (RHT) Tops Q4 EPS by 15c

Red Hat (NYSE: RHT) reported Q4 EPS of $1.16, $0.15 better than the analyst estimate of $1.01. Revenue for the quarter came in at $879 million versus the consensus estimate of $883.85 million.

Deferred revenue and backlog: Total backlog for fiscal year 2019 was in excess of $4.1 billion, up 22% year-over-year. We define total backlog as total deferred revenue, which has been billed, plus the value of non-cancellable subscription agreements not yet billed or reflected in our financial statements and the value of service agreements not yet billed or reflected in our financial statements that we believe to be firm. At the end of the fiscal year, the Company’s total deferred revenue balance was $3.0 billion, an increase of 15% year-over-year. The negative impact to total deferred revenue from changes in foreign exchange rates was $77 million year-over-year. On a constant currency basis, total deferred revenue would have increased 18% year-over-year.

The portion of total backlog to be billed in the future not reflected in our financial statements was in excess of $1.0 billion as of February�28, 2019, compared with the ending balance in excess of $775 million reported for fiscal year 2018. The portion of total backlog to be billed during fiscal year 2020 was in excess of $490 million as of February�28, 2019, compared with in excess of $450 million for the fiscal year ended February 28, 2018.

Due to the pending transaction with International Business Machines Corporation, Red Hat will not be hosting a conference call for its fourth quarter2019 business results and will not be providing an outlook for its fiscal 2020.

Additional information on Red Hat's reported results, including a reconciliation of the non-GAAP adjusted results, are included in the financial tables below.

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

You May Also Be Interested In

• The tech crown switches hands: Apple dethrones Nvidia as $4 trillion king
• Oppenheimer upgrades Ecolab to Outperform, sees AI growth driving upside
• Netflix (NFLX) Tops Q2 EPS by 1c, Offers Guidance