Red Hat: Certain To Grow With Rising Linux Acceptance
Over the years Linux users has been consistently growing due to un-parallel benefits like cost and critical load performance over its competitors like Microsoft Windows. Red Hat Software (RHT) is one such company that provides Linux operating system for desktop and web servers. Red Hat is a leading player in open-source Linux that crossed $1 billion in annual revenue, and it has a solid plan to keep growing its business in the years ahead. Red Hat partners with enterprise vendors like IBM, HP, Intel, Cisco, Dell, and SAP this also provides a deeper penetration in the global market.
The company recently declared quarterly results and was firing all cylinders, it set records for new bookings and billings with strong renewals. It reported a record number of 30 deals that crossed $1 million, with 7 deals that crossed $5 million and 2 were over $10 million. Revenue of $400.4 million was recorded, up by 15.1% year over year also beating the management’s guided range of $397.0 million to $400.0 million.