Red Hat (RHAT) announced a 15 percent increase in first-quarter profit and better-than-expected revenue. However, the company reported weaker-than-expected billings. The company earned $37.5 million, or 19 cents per share, for the most recent fiscal quarter, up from $32.5 million, or 17 cents per share, in the same period last year. Revenue was $314.7 million, beating estimates of $310.8 million.
Shares are lower in early trading.
The company sells the Red Hat Linux operating system, which competes with Microsoft (NASDAQ:MSFT) Windows for use on servers and enterprise level computing.
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