LINUX VENDOR Red Hat has unveiled bumper quarterly profits that put it on course to generate $1bn in revenue by the end of its financial year.

Red Hat announced first quarter 2012 financial year revenue of $265m, up 27 per cent from the same quarter last year. Net income during the quarter was $32.5m, up over 35 per cent from the first quarter of its 2011 fiscal year, leaving the firm in a bullish mood claiming that its revenue might rise to $1.09bn by the end of its financial year.

More: http://www.redhat.com/about/news/prarchive/2011/Q1-2011