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Red Hat Stock Jumps After Beating Revenue Projections For 51st Consecutive Quarter

December 22, 2014

(W) NetScout Red Hat — The Gutierrez Company of Burlington is proposing to build 282 rental units behind Net Scout and Red Hat on Route 110 in Westford. FILE PHOTO

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Last week, Red Hat announced third quarter earnings with the latest in what seems to be a neverending string of good news for the open source software company.

Red Hat’s earnings report announced $456 million in revenue, beating the $451.4 million estimate.

That marks a 15 percent year-over-year quarterly overall revenue increase and the 11^th straight quarter of more than 10 percent revenue growth for the company as the 51^st consecutive quarter Red Hat’s beat revenue estimates.

The news sent Red Hat stocks (NYSE: RHT) shooting to a 52-week high of just under $70 by the close of business on Friday.

Here in Westford, Red Hat completed an expansion of the campus at the corner of Littleton and Concord roads earlier this year as part of a Tax Increment Financing district approved by Town Meeting voters in the Fall of 2011.

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