Red Hat Hits Q4 Revenue of $629 million, up 16%

Red Hat reported Q4 revenue of $629 million, up 16% year-over-year. Subscription revenue for the quarter was $560 million, up 17% year-over-year. GAAP net income for the quarter was $66 million, or $0.36 per diluted share, compared with $53 million, or $0.29 per diluted share, in the year-ago quarter.Full fiscal year 2017 total revenue was $2.4 billion, up 18%.

“Our strategic position with customers is evidenced by the continued growth in large commitments to Red Hat. The number of deals greater than $1 million in fiscal 2017 grew by over 30% annually, and we closed a record number of deals over $20 million, including our first-ever deal of approximately $100 million in the fourth quarter,” stated Eric Shander, acting Chief Financial Officer of Red Hat. “This performance also drove a record backlog of $2.7 billion in U.S. dollars, up 28% year-over-year which contributes to our fiscal year 2018 revenue outlook of 13% to 14% growth and should help drive expanded GAAP operating margin of 15.2% and non-GAAP operating margin of 23.6%.”

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