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Red Hat Declines as Profit Falls Short of Analyst Estimates

Red Hat Inc., the largest seller of the open-source Linux operating system, dropped after second-quarter profit missed analysts’ estimates and the company pared sales forecasts on weak demand for services.

Excluding some items, profit in the quarter that ended Aug. 31 was 28 cents a share, less than the 29-cent average projection compiled by Bloomberg. Sales were $322.6 million, the company said yesterday in a statement, compared with the $321.7 million analysts estimated.