Red Hat shares rise on revenue beat, outlook

Red Hat Inc. shares rose in the extended session Monday after the software company's forecast for the year topped Wall Street estimates and it reported higher-than-expected revenue for the quarter. Red Hat shares advanced 3.8% to $85.30 after hours. The company reported adjusted fiscal fourth-quarter earnings of 61 cents a share on revenue of $629 million. Analysts surveyed by FactSet had estimated earnings of 61 cents a share on revenue of $618.6 million. For the year, Red Hat expects adjusted earnings of $2.60 to $2.64 a share on revenue of $2.72 billion to $2.76 billion. Analysts estimate earnings of $2.59 a share on revenue of $2.71 billion.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.