Red Hat Stock Down 5% As Sales Outlook Disappoints
Red Hat (RHT) shares were down 5.5% in early trading Thursday after the company late Wednesday reported lower-than-expected Q1 billings and gave a disappointing sales outlook. The provider of open-source Linux and other software and services used in cloud computing and other environments did beat earnings and revenue expectations for its quarter ended May 31, as we reported. Red Hat provides open-source Linux software that enables companies to
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