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

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

-

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.

(W) NetScout Red HatThat marks a 15 percent year-over-year quarterly overall revenue increase and the 11th straight quarter of more than 10 percent revenue growth for the company as the 51st 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.