Open source software firm Red Hat has reported a 16% year-over-year rise in revenue during its second quarter to $374m, compared to the same period last year.
Net income for the company increased to $41m, or $0.21 per diluted share, compared to $35m, or $0.18 per diluted share it reported during the same quarter previous year.
Subscription revenue during the quarter increased 17% year-over-year to $327m, compared to the second quarter of fiscal 2013.
Red Hat president and CEO Jim Whitehurst said that the company has recently added infrastructure-as-a-service Red Hat Enterprise Linux OpenStack Platform to its portfolio of cloud offerings.
"The combination of this powerful technology with our platform-as-a-service, open software-defined storage and cloud management solutions create a compelling road map for our customers in the move to cloud computing," Whitehurst said.
During the second quarter of fiscal 2014, the company has registered a GAAP operating income of $56m, an 11% growth compared to the corresponding quarter last year.
Red Hat executive VP and CFO Charlie Peters said that the company delivered mid-to-high teens growth across several financial metrics including revenue, non-GAAP operating income and operating cash flow.
"These results were driven in particular by strong subscription revenue growth, up 17% in US dollars and 18% in constant currency," Peters added.
