Red Hat Reports Total Revenue of $723 Million for Q2 FY2018
On Monday, open source technology provider Red Hat, Inc. (NYSE: RHT) announced its second quarter fiscal year 2018 financials for the period ended August 31, 2017. Among the highlights for the quarter are sizable increases in subscription revenue and results that exceeded expectations. For Q2 FY2018, Red Had Reported total revenue of $723 million, a 21 percent increase over the same period last year. This included subscription revenue of $638 million, a 20 percent increase year-over-year, broken down into application development-related and other emerging technology revenue of $150 million, a 44 percent increase year-over-year, and infrastructure-related revenue of $487 million, a 14 percent increase. Subscription revenue now makes up 88 percent of total revenue for Red Hat.
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