Red Hat Posts Bug Growth, Getting Closer to $1 Billion Goal

Red Hat announced its fourth quarter earnings yesterday. The open source company's revenue was up 15 percent and posted annual revenue of $748 million.

"With double digit revenue growth and record billings, our fourth quarter capped off a year of solid performance," Red Hat CEO Jim WhiteHurst said, "moving us closer to our milestone revenue goal of a billion dollars."

The company recorded $195.9 million for the fourth quarter of 2009.