{"id":33916,"date":"2018-03-27T10:29:21","date_gmt":"2018-03-27T10:29:21","guid":{"rendered":"https:\/\/www.cloudcomputing-news.net\/news\/2018\/mar\/27\/red-hat-posts-positive-financials-cites-coreos-acquisition-key\/"},"modified":"2018-03-27T10:29:21","modified_gmt":"2018-03-27T10:29:21","slug":"red-hat-posts-positive-financials-cites-coreos-acquisition-as-key","status":"publish","type":"post","link":"https:\/\/icloud.pe\/blog\/red-hat-posts-positive-financials-cites-coreos-acquisition-as-key\/","title":{"rendered":"Red Hat posts positive financials, cites CoreOS acquisition as key"},"content":{"rendered":"

<\/p>\n

Another day, another earnings report where cloud is cited as the primary mover. This time it’s Red Hat, whose fourth quarter and full year revenues have gone up 23% and 21% year over year respectively.<\/p>\n

Full year revenues were at $2.9 billion (£2.05bn) while fourth quarter total revenue was at $772 million (£546.4m). The company’s subscription revenue from infrastructure-related offerings was at $510m for the most recent quarter, representing two thirds of total revenue, while total subscription revenue was 88% of overall revenue.<\/p>\n

The key highlight for Red Hat over the past quarter was the acquisition of CoreOS, a provider of Kubernetes and container solutions, for $250m in January<\/a>. The move was cited by president and CEO Jim Whitehurst when speaking to analysts and, on a wider scale, the importance of container technologies for Red Hat going forward.<\/p>\n

“The acquisition of CoreOS further enhances our ability to help customers build applications and deploy them across hybrid environments,” said Whitehurst, as transcribed by Seeking Alpha<\/a>. “By combining CoreOS’s complementary capabilities with Red Hat’s already broad Kubernetes and container-based portfolio, including OpenShift, we aim to further accelerate adoption and development of the industry’s leading hybrid cloud platform for modern application workloads.”<\/p>\n

Back in 2016<\/a>, this reporter attended the London Red Hat Forum where open source software reigned supreme. At that time, Red Hat saw itself as the #2 player in Kubernetes and Docker. The company remains the second leading contributor to Kubernetes, which itself has gone from strength to strength, ‘graduating’<\/a> from the Cloud Native Computing Foundation (CNCF) earlier this month.<\/p>\n

“We continue to believe that the next era of technology will be driven by container-based applications that span multi and hybrid cloud environments and that Kubernetes, containers and Linux will be the foundation of this transformation,” added Whitehurst.<\/p>\n

You can read the full results here.<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Another day, another earnings report where cloud is cited as the primary mover. This time it’s Red Hat, whose fourth quarter and full year revenues have gone up 23% and 21% year over year respectively.
\nFull year revenues were at $2.9 billion (&po…<\/p>\n","protected":false},"author":50,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-33916","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/icloud.pe\/blog\/wp-json\/wp\/v2\/posts\/33916","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/icloud.pe\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/icloud.pe\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/icloud.pe\/blog\/wp-json\/wp\/v2\/users\/50"}],"replies":[{"embeddable":true,"href":"https:\/\/icloud.pe\/blog\/wp-json\/wp\/v2\/comments?post=33916"}],"version-history":[{"count":1,"href":"https:\/\/icloud.pe\/blog\/wp-json\/wp\/v2\/posts\/33916\/revisions"}],"predecessor-version":[{"id":33917,"href":"https:\/\/icloud.pe\/blog\/wp-json\/wp\/v2\/posts\/33916\/revisions\/33917"}],"wp:attachment":[{"href":"https:\/\/icloud.pe\/blog\/wp-json\/wp\/v2\/media?parent=33916"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/icloud.pe\/blog\/wp-json\/wp\/v2\/categories?post=33916"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/icloud.pe\/blog\/wp-json\/wp\/v2\/tags?post=33916"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}