trending Market Intelligence /marketintelligence/en/news-insights/trending/wjtnffisi_irhx9hwumomw2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

In This List

Red Hat reports net loss on US tax changes

Cable Network Q1'20 Distribution Revenue Recap

State of the Market: Mining Q1-2020

S&P Global Market Intelligence Goes ‘All-In’ On Mobile

2020 TMT Ecosystem: Effects of COVID-19

Red Hat reports net loss on US tax changes

Red Hat Inc., a U.S. software company, reported a net loss for its fiscal fourth quarter ending Feb. 28 of $12.6 million, or a diluted net loss per share of 7 cents, down 81% from the prior-year quarter's net income of $65.8 million, or a diluted net income per share of 36 cents.

The company posted total revenue of $772.3 million for the period against $628.8 million in the same period last year. Subscriptions, which comprised 89% of total revenue, came in at $683.3 million, up 22% from the prior period's $559.6 million on a quarterly basis.

Cost of revenue for the current quarter rose to $112.6 million compared to $92.2 million in the same period last year.

The company said its results included a one-time charge of $123 million pertaining to the new U.S. tax law, which pushed the provision for income taxes up to $154.6 million from the prior-year quarter's $25.9 million.

Net income for the full year increased to $258.8 million from $253.7 million recorded last year.

"We believe our total backlog, along with continued demand for our technologies, will enable us to deliver strong growth in fiscal year 2019," said Eric Shander, Red Hat's executive vice president and chief financial officer.

Red Hat said it expects revenue for the full year 2018 to reach up to $3.46 billion and diluted EPS as high as $2.28.