Ups And Downs: The Best And Worst Tech Stocks In The First Half Of 2017
Submitted by Rick Whiting on
Red Hat
CEO: James Whitehurst
Dec. 30, 2016: $69.70
June 30, 2017: $95.75
Change: +37.37%
Open-source software developer Red Hat wrapped up a solid fiscal 2017 (ended Feb. 28), reporting that revenue for the fiscal year 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.
For its fiscal 2018 first quarter (ended May 31) Red Hat reported revenue of $596.5 million, up nearly 19 percent from $501.7 million in the same period one year earlier. Net income was $73.2 million, up nearly 20 percent from $61.2 million one year before.
In May Red Hat unveiled a deal to acquire Codenvy, a provider of development tools used by programmers to create container-based and cloud-native applications, for an undisclosed sum.