Red Hat banks on cloud portfolio

Open source solutions specialist Red Hat isregistering growing interest in its recently-introduced Cloud Foundations portfolio and says it has already inked its first million dollar private cloud management deal. Reporting fiscal Q2 numbers on Wednesday evening, Red Hat president and CEO Jim Whitehu

Open source solutions specialist Red Hat is registering growing interest in its recently-introduced Cloud Foundations portfolio and says it has already inked its first million dollar private cloud management deal.

Reporting fiscal Q2 numbers on Wednesday evening, Red Hat president and CEO Jim Whitehurts hailed the first signs of "solid interest in our cloud and virtualisation initiatives" which were introduced during the quarter.

He added: "Our sales execution in the quarter resulted in organic revenue growth of 20% and the best billings growth rate in two years."

In the three months to the end of August, Red Hat made total revenues of $219.8m (£140.7m) ,while subscription sales rose 19% year-on-year to $186.2m.

GAAP-operating income rose 24% to $34.1m, although net income was down to $23.8m from $28.9m this time last year, although the year-ago figures included a one off tax benefit of just over $7m.

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