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Just a day after fellow software player Oracle showed that demand was holding up in the market open source specialist Red Hat has added its own figures to illustrate that spending is still taking place.
The crucial statistic when it comes to a software player is the number of new licenses sold and Red Hat managed to deliver a 28% increase in subscription revenue year-on-year for its second quarter ended 31 August.
The results of strong demand meant that the results for the vendor's second quarter were ahead of its own expectations and it continues to set its sights on finishing the fiscal year with $1bn revenue.
Revenue of $281m was up by 28% and net income of $40m was also up from $23.7m in the same period a year earlier leading Jim Whitehurst, president and CEO of Red Hat, enthusing about the sweet spot of selling into the cloud and virtualisation space.