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.'”