Red Hat Inc. (RHT) on Thursday reported fiscal third-quarter earnings of $47.9 million.
On a per-share basis, the Raleigh, North Carolina-based company said it had net income of 26 cents. Earnings, adjusted for stock option expense and non-recurring costs, were 42 cents per share.
The results surpassed Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 40 cents per share.
The open-source software company posted revenue of $455.9 million in the period, also exceeding Street forecasts. Analysts expected $450.9 million, according to Zacks.
Red Hat shares have risen roughly 10 percent since the beginning of the year, while the Standard & Poor’s 500 index has risen 11 percent. In the final minutes of trading on Thursday, shares hit $61.49, a climb of 26 percent in the last 12 months.
