Deferred revenue increased 40& sequentially, to $42.3 million. Gross margins remained strong, with blended gross margins at 72&, and gross margins of Enterprise subscriptions remaining constant at 88&. "Our revenue growth accelerated in the third quarter, which translated to increased operating income and cash flows from operations ," said Kevin Thompson, Red Hat Executive Vice President and Chief Financial Officer. "The subscription revenue model has developed sufficient maturity to enable us to drive consistent sequential increases in quarterly revenue." See the Tables.
Red Hat Delivers Record Revenue, Cash Flows From Operations, and Operating Income in Third Quarter
Growth in Enterprise Subscription volumes accelerates to 33,000 new subscriptions, drives 40& sequential growth in deferred revenue.
Deferred revenue increased 40& sequentially, to $42.3 million. Gross margins remained strong, with blended gross margins at 72&, and gross margins of Enterprise subscriptions remaining constant at 88&. "Our revenue growth accelerated in the third quarter, which translated to increased operating income and cash flows from operations ," said Kevin Thompson, Red Hat Executive Vice President and Chief Financial Officer. "The subscription revenue model has developed sufficient maturity to enable us to drive consistent sequential increases in quarterly revenue." See the Tables.