Red Hat profit forecast matches estimates despite strong dollar
Red Hat Inc (RHT.N), the world's largest commercial distributor of the Linux operating system, forecast a profit for the first quarter that matched analysts' estimates despite warning on a strong dollar hurting its revenue.
Red Hat shares were up 5 percent in after-market trading on Wednesday after the company's profit beat the average analyst estimate for the eighth straight quarter.
The company also said a $500 million share buyback program will replace an existing $300 million program.
Also: Why Singapore's Yale-NUS College is using Red Hat technology
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