Is Red Hat in Trouble?

Red Hat’s total revenue for its fiscal 2007 second quarter may have grown, but when the second-quarter profit slipped 34 percent because of stock compensation expenses, the stock-market had a fit and Red Hat’s stock dropped 23.21 percent to $20.21 a share.

Was the news really that bad? It doesn’t look like it was that awful.

Red Hat’s total revenue for the quarter was $99.7 million, an increase of 52 percent from the year-ago quarter and 19 percent from the prior quarter.

Subscription revenue was $84.9 million, up 56 percent year-over-year and 19 percent sequentially.

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