Thursday, March 29, 2012

Red Hat: First Open-Source Company With $1 Billion In Revenue | Muktware

Red Hat has always been the 'ideal' open source company. The company has now broken all records and become the first open source company to register a whooping $1.3 billion in revenues.

Total revenue for the fourth quarter ended February 29, 2012 was $297.0 million, an increase of 21% from the year ago quarter. Subscription revenue for the quarter was $255.2 million, up 22% year-over-year. For the full fiscal year 2012, total revenue was $1.13 billion, an increase of 25% over the prior year, and subscription revenue was $965.6 million, up 25% year-over-year.

Jim Whitehurst, President and Chief Executive Officer of Red Hat. “Red Hat is the first pure-play, open source company, and one of only a select few software companies, to have achieved the billion dollar revenue milestone. The open source technologies which we provide are being selected by more customers every day as they re-architect the infrastructure of their data centers for greater efficiency, agility and cloud enablement.”

Community respect
Red Hat is one of the primary forces behind the free and open source operating system Fedora. The company is the top contributor to the development of Linux kernel and also leads the innovation of new technologies in the open source world.

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