Red Hat Inc. said its normalized net income for the fiscal first quarter ended May 31 was 18 cents per share, compared with the S&P Capital IQ consensus estimate of 33 cents per share.
EPS declined year over year from 19 cents.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $34.5 million, a decline from $36.1 million in the year-earlier period.
The normalized profit margin declined to 7.8% from 9.9% in the year-earlier period.
Total revenue climbed 16.7% year over year to $423.8 million from $363.3 million, and total operating expenses increased 20.9% from the prior-year period to $370.8 million from $306.6 million.
Reported net income declined 5.5% year over year to $38.3 million, or 20 cents per share, from $40.5 million, or 21 cents per share.
