Tech Company Stocks In Q1: Who Gained? Who Lost?
Submitted by Rick Whiting on
Red Hat
CEO: James Whitehurst
Dec. 30, 2016: $69.70
March 31, 2017: $86.50
Change: +24.10%
Open-source software developer Red Hat wrapped up a solid fiscal year during the quarter. In March the vendor reported that revenue for its fiscal 2017 (ended Feb. 28) was $2.41 billion, up 17.5 percent from $2.05 billion in fiscal 2016. Net income for the year was $253.7 million, up more than 27 percent from $199.4 million one year earlier.
Also in March the company debuted Red Hat Enterprise Linux 6.9, the latest edition of the company's flagship operating system software.