March 27, 2015

Red Hat's Bet on OpenStack, OpenShift Shows Progress

Yesterday, I reported on Red Hat delivering its fourth quarter and year-end financial results, which were strong. There were some interesting forces driving the numbers, though. In particular, Red Hat is now a couple of years into a strategic shift toward facilitating OpenStack cloud computing for enterprises, and CEO Jim Whitehurst pointed to that fork in the road as beginning to pay off. Here are some more detailed glimpses into Red Hat's increasingly significant cloud business.

For all of 2014, Red Hat earned $1.79 billion in revenue, up 17 percent year-over-year. So this company, firmly focused on open source technology, has shown that it can not only be a billion dollar firm, but is quickly going to be a two billion dollar a year firm. Notably, the fourth quarter of last year was Red Hat's twelfth in a row with revenue growth percentage at least in the mid-teens.

Read more at Ostatic

Click Here!