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Red Hat net quarterly income down but revenue up |
Red Hat has reported that its net income slid by 37 per cent over the last quarter to $15.5 million (£7.9 million).
However, over the same period, the Linux vendor saw its revenue increase by 45 per cent to $105.8 million, outperforming analyst expectations, the Associated Press (AP) reports.
Charlie Peters, Red Hat's executive vice president, said: "This quarter's performance was characterized by strong market demand and solid execution."
Shares in the company rose by 13.6 per cent to $2.45 after the market closed on Thursday, according to AP.
And following the results, Red Hat moved to dismiss competition from Oracle.
Chief executive Matthew Szulik was quoted by CNET as saying in a conference call: "We are optimistic that our long-term competitive position is being enhanced by the participation of larger entrants.
"The continuing loyalty shown by our customer base, particularly in light of (new competition), was evident in the third quarter."
 © Adfero Ltd |
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22 December 2006
16:08:06 |
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