trending Market Intelligence /marketintelligence/en/news-insights/trending/ndZQNYKYo_jWgNGzW6xUIw2 content esgSubNav
In This List

Red Hat profit misses consensus by 48.6% in fiscal Q2

Blog

Capital Markets Activity Infographic: SPAC Volume Rises in Q3; Equity Issuance Drops but Remains Strong in Several Sectors

Blog

Asset Owner Perspectives on Climate Change Measurement, Management, and Reporting in Australia

Blog

How Financial Institutions are Managing Exposure to U.S. Municipals

Blog

Insight Weekly: Global stock performance; hydrogen pilot projects; Powell's Fed future unsure


Red Hat profit misses consensus by 48.6% in fiscal Q2

Red Hat Inc. said its normalized net income for the fiscal second quarter ended Aug. 31 came to 28 cents per share, compared with the S&P Capital IQ consensus estimate of 54 cents per share.

EPS increased 14.3% year over year from 24 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $50.8 million, an increase of 12.2% from $45.2 million in the year-earlier period.

The normalized profit margin dropped to 8.3% from 9.0% in the year-earlier period.

Total revenue rose 19.0% year over year to $599.8 million from $504.1 million, and total operating expenses increased 20.7% year over year to $516.1 million from $427.7 million.

Reported net income rose 12.2% from the prior-year period to $58.7 million, or 32 cents per share, from $52.3 million, or 28 cents per share.