Track the companies that matter to you. It's FREE! Click one of these fan favorites to get started: Apple; Google; Ford.

Red Hat Reports 3Q, Acquires ManageIQ

Red Hat (NYSE: RHT  ) released its fiscal 3Q 2013 results in an official statement today. The company's revenue grew 18% on a year-over-year basis, to $344 million, while non-GAAP net profit was up slightly, to just under $57 million ($0.29 per diluted share).

That revenue figure beat analyst expectations of $338 million, while net income broadly matched estimates.

In a separate press release, Red Hat announced that it has acquired ManageIQ, an early-stage company that offers cloud management solutions. Red Hat will pay $104 million in cash; the buyout is subject to approval by ManageIQ shareholders.

Red Hat said the acquisition "is expected to have no material impact" on the company's revenue for the current fiscal year, but will add around $2 million to operating expenses starting in fiscal 2014.

Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2165204, ~/Articles/ArticleHandler.aspx, 5/23/2015 12:36:53 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

Apple's next smart device (warning, it may shock you

Apple recently recruited a secret-development "dream team" to guarantee its newest smart device was kept hidden from the public for as long as possible. But the secret is out. In fact, ABI Research predicts 485 million of this type of device will be sold per year. But one small company makes Apple's gadget possible. And its stock price has nearly unlimited room to run for early-in-the-know investors. To be one of them, and see Apple's newest smart gizmo, just click here!