The Real Scoop On Red Hat's Plunge
I'm a little miffed at the fact that I'm writing this article right now. You see, I'd rather take advantage of this tremendous buy-in opportunity on Red Hat (NYS: RHT) than write about it. According to our Foolish disclosure policy, I must now wait until next week before touching the stock. Chances are that the discount might be gone by then.
Oh, well. I'm also excited about guiding you through Red Hat's story, particularly because I've got some info to share. Read on to see what I'm talking about.
Why so excited, dear Fool?
You see, Red Hat shares were crushed for ridiculous reasons. The Linux vendor reported first quarter revenue of $315 million, just ahead of the $310 million analyst consensus, while boosting non-GAAP bottom-line earnings by 25% year-over-year to $0.30 per share -- again ahead of Street targets set at $0.27.
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