Red Hat's Off!

After the close Wednesday, Red Hat (RHT) reported fiscal fourth-quarter revenue of $348 million, up 17%, and full-year sales of $1.33 billion. But, while those results were in line with investor expectations, the guidance for fiscal 2014 was disappointing. Investors didn't like the forward outlook for revenue, nor for software billings -- that is, invoices sent to customers -- and the stock sold off in the after-hours session.

On the conference call management told investors to expect first-quarter revenue of between $358 million to $361 million, and earnings per share of $0.30 to $0.31. For all of fiscal 2014, Red Hat predicted a top line of $1.51 billion to $1.54 billion and EPS of $1.31 to $1.35, below the consensus estimates of $1.55 billion and $1.38 per share, respectively....413 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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