| Red Hat 1Q profit climbs 17 percent |
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Open-source software maker Red Hat Inc. said Wednesday its fiscal first-quarter profit jumped 17 percent year-over-year, driven by strong demand for its Linux software as well as sales of new products and subscription-based services.
Net income for the quarter ended May 31 grew to $16.2 million, or 8 cents per share, from $13.8 million, or 7 cents per share, a year ago. Excluding certain expenses, earnings totaled $33.7 million, or 16 cents per share, in the latest quarter.
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