Red Hat reports Q3 results for FY 2019

Red Hat, Inc. (NYSE: RHT), the world´s provider of open source solutions, has announced financial results for the third quarter of fiscal year 2019 ended November 30, 2018, the company said.

Revenue: Total revenue for the quarter was USD 847 million, up 13% year-over-year, or 15% measured in constant currency. Constant currency references in this release are detailed in the tables below. Subscription revenue for the quarter was USD 741 million, up 13% year-over-year, or 15% measured in constant currency. Subscription revenue in the quarter was 87% of total revenue.

Subscription Revenue Breakout: Subscription revenue from Infrastructure-related offerings for the quarter was USD 534 million, an increase of 8% year-over-year, or 9% measured in constant currency. Subscription revenue from Application Development-related and other emerging technology offerings for the quarter was USD 207 million, an increase of 28% year-over-year, or 30% measured in constant currency.

Operating Income: GAAP operating income for the quarter was USD 109 million, down 8% year-over-year. After adjusting for non-cash share-based compensation expense, amortization of intangible assets, and transaction costs related to business combinations, non-GAAP adjusted operating income for the third quarter was USD 203 million, up 13% year-over-year. For the third quarter, GAAP operating margin was 12.9% and non-GAAP adjusted operating margin was 24.0%. Non-GAAP references in this release are detailed in the tables below.

Net Income: GAAP net income for the quarter was USD 94 million, or USD 0.51 diluted earnings per share (“EPS”), compared with GAAP net income of USD 102 million, or USD 0.55 diluted EPS, in the year-ago quarter.

Red Hat is the world´s provider of enterprise open source software solutions, using a community-powered approach to deliver reliable and high-performing Linux, hybrid cloud, container, and Kubernetes technologies. Red Hat helps customers integrate new and existing IT applications, develop cloud-native applications, standardize on our industry-leading operating system, and automate, secure, and manage complex environments. Learn more at www.redhat.com.