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Red Hat Inc (RHT) SEC Filing 10-Q Quarterly report for the period ending Wednesday, May 31, 2017

Red Hat Inc

CIK: 1087423 Ticker: RHT

Exhibit 99.1

Red Hat Reports First Quarter Results for Fiscal Year 2018

  • First quarter total revenue of $677 million, up 19% year-over-year or 20% in constant currency
  • First quarter total subscription revenue of $597 million, up 19% year-over-year or 20% in constant currency
  • First quarter Application Development-related and other emerging technology subscription revenue of $139 million, up 41% year-over-year or 42% in constant currency
  • Quarter-end deferred revenue balance of $2.05 billion, up 21% year-over-year

RALEIGH, N.C.--(BUSINESS WIRE)--June 20, 2017--Red Hat, Inc. (NYSE: RHT), the world's leading provider of open source solutions, today announced financial results for the first quarter of fiscal year 2018 ended May 31, 2017.

“The first quarter was a strong start to FY18, with double digit growth across a number of our financial metrics, including 19% total revenue growth in U.S. dollars or 20% measured in constant currency and over 40% growth in our Application Development-related and other emerging technology revenue," stated Jim Whitehurst, President and Chief Executive Officer of Red Hat. "We continued to benefit from our ability to deliver important foundational and cloud enabling technologies, which help our customers to modernize and manage their infrastructure and application development platforms for the hybrid cloud."

"The strength of the first quarter results was driven in part by robust global demand for our technologies and increased commitments from our largest customers," stated Eric Shander, Executive Vice President and Chief Financial Officer of Red Hat. "The combination of our strong first quarter results, business momentum and solid execution by Red Hat associates has enabled us to increase our full year revenue outlook."

Revenue: Total revenue for the quarter was $677 million, up 19% in USD year-over-year, or 20% measured in constant currency. Constant currency references in this release are detailed in the tables below. Subscription revenue for the quarter was $597 million, up 19% in USD year-over-year, or 20% measured in constant currency. Subscription revenue in the quarter was 88% of total revenue.

Subscription Revenue Breakout: Subscription revenue from Infrastructure-related offerings for the quarter was $458 million, an increase of 14% in USD year-over-year, and 14% as measured in constant currency. Subscription revenue from Application Development-related and other emerging technologies offerings for the quarter was $139 million, an increase of 41% in USD year-over-year, or 42% measured in constant currency.


The following information was filed by Red Hat Inc (RHT) on Tuesday, June 20, 2017 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Red Hat Inc's 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (parenthetical)
Consolidated Statements Of Cash Flows
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Fair Value Of Assets And Liabilities Acquired (detail)
Fair Value Of Assets And Liabilities Acquired (parenthetical) (detail)
Fair Value Of Notes Based On Inputs Observable In Market (level 2) And Carrying Value Of Debt Instruments (detail)
Identifiable Intangible Assets
Identifiable Intangible Assets (tables)
Identifiable Intangible Assets - Additional Information (detail)
Income Taxes
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Investments Measured At Fair Value (detail)
Investments Measured At Fair Value (parenthetical) (detail)
Legal Proceedings
Reconciliation Of Numerators And Denominators Of Earnings Per Share Calculation (detail)
Schedule Of Amortization Expense Associated With Identifiable Intangible Assets (detail)
Schedule Of Total Interest Expense Recognized Related To Convertible Notes (detail)
Schedule Of Total Interest Expense Recognized Related To Convertible Notes (parenthetical) (detail)
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Shares Considered Anti-dilutive For Calculating Diluted Eps (detail)
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Stockholders' Equity - Additional Information (detail)
Summary Of Accumulated Other Comprehensive Loss (detail)
Summary Of Changes In Goodwill (detail)
Summary Of Changes In Stockholders' Equity (detail)
Summary Of Effects Of Derivative Instruments (detail)
Summary Of Revenue From Unaffiliated Customers (detail)
Summary Of Revenue, Income (loss) From Operations, Total Assets And Total Cash, Cash Equivalents And Available-for-sale Investment Securities By Geographic Segments (detail)
Summary Of Share-based Awards Granted During Period (detail)
Summary Of Share-based Awards Granted During Period (parenthetical) (detail)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (policies)
Summary Of Stated Maturities Of Investment In Debt Securities (detail)
Summary Of Subscription And Services Revenue By Technology Classes (detail)
Summary Of Tangible Long-lived Assets (detail)
Ticker: RHT
CIK: 1087423
Form Type: 10-Q Quarterly Report
Accession Number: 0001193125-17-223014
Submitted to the SEC: Thu Jul 06 2017 4:21:33 PM EST
Accepted by the SEC: Thu Jul 06 2017
Period: Wednesday, May 31, 2017
Industry: Computer Programming Data Processing

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