Reuters: Global Markets: Red Hat fourth quarter beats estimates

Reuters: Global Markets Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

Red Hat fourth quarter beats estimates Mar 28th 2012, 20:26 Wed Mar 28, 2012 4:26pm EDT (Reuters) - Business software maker Red Hat Inc (RHT.N) posted a better-than-expected fourth quarter, helped by higher subscription revenues. Net income for the quarter fell to $36 million, or 18 cents per share, from $38.2 million, or 19 cents per share, a year ago. Excluding items, the company earned 29 cents per share. Revenue for the quarter rose 21 percent to $297 million. Analysts, on average, expected earnings of 27 cents per share on revenue of $291.2 million, according to Thomson Reuters I/B/E/S. Shares of the company were up 3 percent in after-market trade on Wednesday on the New York Stock Exchange.

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