Red Hat revenue surges 11% - Linux appeals to the thrifty
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Software company Red Hat continued its recession-defying performance by posting an 11 percent increase in quarterly revenue that outpaced analysts' expectations. Profits for the fiscal first quarter that ended May 31 totaled $28.7 million after excluding certain expenses, up from $26 million a year earlier, the Raleigh company reported late Wednesday. Earnings per share totaled 15 cents, ahead of the 14 cents forecast by analysts.
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