Open source software company Red Hat (NYSE:RHT) is scheduled to release earnings for its 2014 fiscal first quarter on Wednesday after the markets close.
Analysts polled by Thomson Reuters on average estimate the Raleigh-based company will earn 31 cents per share in the quarter. A year ago, the company reported earnings of 30 cents per share. Analysts also estimated that Red Hat’s first quarter revenue would grow to $359.84 million, up from $314.7 million in the prior year period.
The earnings release follows the Red Hat Summit in Boston last week, during which the company made several announcements including the forthcoming release of its open source cloud software offering Red Hat OpenStack. The company’s new cloud software offering is intended to compete against similar offerings from VMware.
