A $2B open-source company? Red Hat!

red_hat_compRed Hat published its FY16 Q4 results and in a historic achievement became the first company running its business on open-source technology to the cross $2B revenue mark. Incidentally, Red Hat was also the first company to cross the $1B mark as a company doing business with Linux.

Figures

The total Q4 revenue is $544M, a 17% increase year over year. It beat the expectation of $534M set by analysts.

Total revenue for FY16 is $2.05B, up 15% year-over-year.

More details from Red Hat here.

Red Hat is one of the most well-known players and a leader in technologies catering to enterprises, with  constant emphasis on innovation and state-of-the-art tech.

This is a significant milestone for any open-source company. Congratulations, Red Hat!

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