SoylentNews

fliptop [soylentnews.org] writes:

Demonstrating you can make money from Linux and open-source software, Jim Whitehurst, Red Hat's president and CEO credits "enterprises increasingly adopting hybrid cloud infrastructures and open source technologies" [zdnet.com] for driving the company's strong results:

For the full 2016 fiscal year, Red Hat's total revenue was $2.05 billion, up 15 percent in US dollars year-over-year, or 21 percent measured in constant currency. Subscription revenue for the full fiscal year was $1.8 billion, up 16 percent in US dollars year-over-year, or 22 percent measured in constant currency. Subscription revenue in the full fiscal year was 88 percent of total revenue.

[...]

Looking ahead for its 2016 FY Red Hat expects to see between $2.380 billion to $2.420 billion. At this rate, Red Hat should easily become the first $3 billion open-source company.

Original Submission