Red Hat (RHT) Reports In-Line Q1 EPS; Guides FY17 EPS Below Views
Red Hat (NYSE: RHT) reported Q1 EPS of $0.50, in-line with the analyst estimate of $0.50. Revenue for the quarter came in at $568 million versus the consensus estimate of $562.76 million.
Share Repurchase Program:
Red Hat, Inc. (NYSE: RHT) announced that its Board of Directors has authorized the repurchase of up to $1 billion of the Company’s common stock from time to time on the open market or in privately negotiated transactions.
The new program is to replace the previous $500 million repurchase program that will be terminated effective June 30, 2016. Approximately $329 million was used under the previous program through June 22, 2016.
As of May 31, 2016, the Company had cash and investments of approximately $2.12 billion.
GUIDANCE:
Red Hat sees Q2 2017 EPS of $0.54, versus the consensus of $0.55. Red Hat sees Q2 2017 revenue of $587-593 million, versus the consensus of $588.6 million.
Red Hat sees FY2017 EPS of $2.19-$2.23, versus the consensus of $2.24. Red Hat sees FY2017 revenue of $2.38-2.42 billion, versus the consensus of $2.40 billion.
For earnings history and earnings-related data on Red Hat (RHT) click here.