Red Hat Reports Double-Digit Revenue Growth for Q1 FY 2019
But investors aren't impressed, sending stock into a nosedive.
For the first quarter of fiscal year 2019, Red Hat, Inc. (NYSE: RHT) reports double-digit growth in a number of categories, including total revenue and subscription revenue. Total revenue for the quarter was $813.5 million. Representing 87.5 percent of total revenue, subscription revenue for Q1 FY 2019 was $711.5 million, a 19 percent increase year-over-year. This is broken down into infrastructure-related offerings at $522 million, a 14 percent increase year-over-year, and application development-related and other emerging technology offerings at $189 million, a 37 percent increase. Training and services revenue of $102.0 million makes up the remaining 12.5 of revenue.
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