Red Hat Becomes First $1 Billion Open Source Company

The company reported $297 million in fourth quarter revenue.

Ars Technica: Red Hat has become the first company that makes its money primarily from open source technology to exceed $1 billion in annual revenue. For its fourth fiscal quarter, the firm reported $297 million in revenue, a 21 percent year-over-year increase. The put total revenue for the year at $1.13 billion with net income of $146.6 million.

In a blog post, Linux Foundation Executive Director Jim Zemlin wrote, "This achievement will finally put to bed the argument that 'nobody can make money with open source.'"

Tags: open source, Linux, earnings, Red Hat

0 Comments (click to add your comment)
Comment and Contribute


(Maximum characters: 1200). You have characters left.



IT Management Daily
Don't miss an article. Subscribe to our newsletter below.

By submitting your information, you agree that datamation.com may send you Datamation offers via email, phone and text message, as well as email offers about other products and services that Datamation believes may be of interest to you. Datamation will process your information in accordance with the Quinstreet Privacy Policy.