Red Hat Rises on Rosy Q2 Results

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Red Hat, a software distributor behind the Linux operating system, said Wednesday its fiscal second-quarter profit grew as companies opted for its products amid the economic downturn. For the quarter ended Aug. 31, the company earned $28.9 million, or 15 cents per share, up from net income of $21.1 million, or 10 cents per share, in the same period a year earlier. Revenue rose 12 percent to $183.6 million from $164.4 million. Its adjusted earnings were 20 cents per share in the latest quarter after adjusting for stock compensation and amortization expenses.

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