Red-hot Linux-based software provider Red Hat late Thursday reported fiscal Q3 earnings and revenue that beat expectations, sending shares rising after hours. Shares were up more than 6% in extended trading, after rising a fraction in Thursday’s regular session to 78.86. That’s 5% off the 83 Red Hat (RHT) stock touched on Nov. 5, its highest price since February 2000 near the height of the dot-com bubble. The Raleigh, N.C.-based
Software giants Oracle (ORCL) and Red Hat (RHT) are all set to report their quarterly results this week. Can they follow industry group peer Adobe (ADBE) with earnings beats of their own? Oracle reports after the close on Wednesday. Analysts expect earnings to fall 13% while revenue drops 6%. As financial results have been lackluster for the past year or so, Oracle’s stock has underperformed. Shares are trading 20% below their high reached on
A little windy in the cloud? Not to worry, says William Blair analyst Jason Ader about Red Hat (RHT), expected to report improvement in its Q3 cloud software earnings after the market close Thursday. “Ultimately, we believe there are more winds at Red Hat’s back than in its face,” wrote Ader in a Dec. 8 research note. With Red Hat’s hot stock trading near 79, about 4% off the recent 52-week high, analysts polled by Thomson Reuters expect the