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Red Hat sees good growth this year

By Justin Mann

On June 29, 2006, 11:16 AM

Linux giant Red Hat has seen good growth the past few months, with fiscal year 2007 showing a 38% boost in revenue overall. Most of Red Hat's income comes from support subscriptions, which compromise $71.5 Million in revenue. While this is mostly good news for Red Hat as a company, it does encourage the idea of companies based around open source software, showing that Linux services are valuable and in-demand. The press release has comments from Charlie Peters, the CFO and Executive Vice President of Red Hat. He mentions the possibility of the company expanding services to areas like India and South America, showing that they are looking to become a truly world wide organization. You can read the full press release at Red Hat's site.

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