Red Hat Falls After Second-Quarter Billings Trail Estimates
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Red Hat Inc., the largest seller of Linux operating-system software, fell the most since 2006 after reporting second-quarter billings that missed analysts’ estimates.
Billings, a predictor of future revenue, rose 8 percent from a year earlier to $376 million, the Raleigh, North Carolina-based company said yesterday in a statement. Analysts at CLSA had projected an increase of 17 percent, and Stifel Nicolaus & Co. predicted 14 percent growth.