Red Hat (RHT) Q3 Earnings Beat Estimates, Revenues Up Y/Y
Zacks Investment Research | Dec 17, 2018 09:32PM ET
Red Hat Inc. (NYSE:RHT) reported non-GAAP earnings of 96 cents per share in third-quarter fiscal 2019, comfortably surpassing the Zacks Consensus Estimate of 87 cents. The figure also increased 31.5% on a year-over-year basis.
Revenues increased 13.2% year over year to $846.8 million, primarily driven by strong demand for hybrid cloud technology solutions as well as aggressive cross-selling. However, the figure lagged the Zacks Consensus Estimate of $854 million.
Revenues, adjusted for currency impact, increased 15.3% year over year to $862.3 million.
Americas; Europe, Middle East & Africa (EMEA); and Asia-Pacific (APAC) revenues increased 11.8%, 14.4% and 17.8%, respectively. After adjusting for currency impact, Americas, EMEA and APAC revenues increased 13.1%, 17.5% and 21.6%, respectively.
Almost 62.3% of the bookings came from Americas, 23.5% from EMEA and 14.3% from APAC. Additionally, total backlog grew 22% from the year-ago quarter to $3.5 billion.
Red Hat, Inc. Price, Consensus and EPS Surprise
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