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Red Hat profit misses consensus by 54.7% in fiscal Q3


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Red Hat profit misses consensus by 54.7% in fiscal Q3

Red Hat Inc. said its normalized net income for the fiscal third quarter ended Nov. 30, 2016, came to 26 cents per share, compared with the S&P Capital IQ consensus estimate of 58 cents per share.

EPS rose 18.4% year over year from 22 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $47.9 million, a gain of 16.2% from $41.2 million in the prior-year period.

The normalized profit margin fell to 7.8% from 7.9% in the year-earlier period.

Total revenue grew 17.5% year over year to $615.3 million from $523.6 million, and total operating expenses climbed 17.5% from the prior-year period to $534.5 million from $454.7 million.

Reported net income grew 45.3% from the prior-year period to $67.6 million, or 37 cents per share, from $46.5 million, or 25 cents per share.