Red Hat Inc. shares jumped more than 9% in after-hours trading Tuesday following a quarterly earnings report that beat expectations and raised projections for the year, sending prices to levels unseen since the dot-com boom went bust.
Red Hat also increased its guidance for profit and revenue for the full fiscal year; adjusted earnings are now expected to fall in a range of $2.66 to $2.70 a share, up from a previous range of $2.60 to $2.64 a share, and sales are expected to finish the fiscal year at $2.785 billion to $2.825 billion, increased from a previous range of $2.72 billion to $2.76 billion.
Red Hat stock rocketed to more than $98.50 after closing with a 0.4% decline at $89.96; shares have not topped $92.49 in regular trading since early 2000.
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