Cloud Computing: Red Hat Closing In On $2 Billion In Its Fourth Quarter
December 28, 2015
Grazed from InformationWeek. Author: Charles Babcock.
Red Hat reported its third quarter 2016 results Nov. 30, and largely contrary to expectations, it’s still going strong. Advances in cloud computing, VMware’s strong virtualization product line, the Cloud Foundry open source development platform, and Amazon and other cloud computing services were all supposed to be sapping Red Hat’s strength.
On the contrary, as long as Red Hat remains at the core of the enterprise data center with its Red Hat Enterprise Linux operating system, it will remain a viable competitor to VMware, the open source development platform Cloud Foundry, and proprietary clouds. This is something that’s not commonly understood about Red Hat and one reason its stock price, after limping through 2015 (with a low of $67 in August), closed Dec. 23 at $83.99, up over 22% since then…
For all of Red Hat’s earning power, its stock has been in the doldrums, as if competitive threats were overwhelming it…
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