Red Hat shares rally on earnings beat, outlook

Red Hat Inc. shares rallied in the extended session Wednesday after the software company's quarterly results and outlook topped Wall Street estimates. Red Hat shares surged 6.4% to $81.96 after hours. The company reported adjusted second-quarter earnings of 55 cents a share on revenue of $600 million. Analysts surveyed by FactSet had estimated 54 cents a share on revenue of $590 million. For the third quarter, Red Hat expects adjusted earnings of about 58 cents a share on revenue of $613 million to $623 million. Analysts estimate 57 cents a share on revenue of $611.5 million.

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