Bed Bath & Beyond Inc. (NASDAQ:BBBY) reported net income above Wall Street’s expectations for the second quarter. Net income for the home furnishing store rose to $229.4 million (93 cents per share) vs. $181.8 million (70 cents per share) in the same quarter a year earlier. This marks a rise of 26.2% from the year earlier quarter. Revenue rose 8.3% to $2.31 billion from the year earlier quarter. BBBY beat the mean analyst estimate of 84 cents per share.
Red Hat, Inc. (NYSE:RHT) reported net income above Wall Street’s expectations for the second quarter. Net income for Red Hat, Inc. rose to $40 million (20 cents per share) vs. $23.7 million (12 cents per share) in the same quarter a year earlier. This marks a rise of 69% from the year earlier quarter. Revenue rose 28% to $281.3 million from the year earlier quarter. RHT reported adjusted net income of 28 cents per share. By that measure, the company beat the mean estimate of 19 cents per share. It beat the average revenue estimate of $253.6 million.
“The combination of strong sales execution and customer demand led to second quarter revenue that was above our guidance and represented our fourth straight quarter of accelerating revenue growth,” stated Jim Whitehurst, President and Chief Executive Officer of Red Hat. “We continued to win and strengthen relationships with enterprise customers who partner with Red Hat to reduce costs while modernizing their IT infrastructure to enable applications to run on bare metal, virtualization and in the cloud. Based on the strong first half results, we believe Red Hat remains well positioned to finish fiscal 2012 as the first billion dollar open source software vendor.”
Competitors to Watch: Oracle Corporation (NASDAQ:ORCL), CA, Inc. (NASDAQ:CA), BMC Software, Inc. (NASDAQ:BMC), Novell, Inc. (NASDAQ:NOVL), Microsoft Corporation (NASDAQ:MSFT), Intl. Business Machines Corp. (NYSE:IBM), EMC Corporation (NYSE:EMC), Hewlett-Packard Company (NYSE:HPQ), VMware, Inc. (NYSE:VMW), and Symantec Corporation (NASDAQ:SYMC).