McDonald’s has always boasted about the billions of customers it has served. But now it has a big problem: the 500 million potential visitors it estimates it’s lost in the past five years. It hopes mobile ordering and curbside delivery will lure them back.
The king of Linux, Red Hat, continues its growth as a leading Linux vendor that’s betting big on the cloud. Yesterday, the company announced financial results for its second quarter of fiscal year 2017 ended August 31, 2016.
The company generated $ 600 million in revenue for the quarter, a 19 percent year-over-year increase. Red Hat is often credited with creating a business model around Linux and Open Source: a subscription based service and support model.
Subscription revenue for the quarter was $ 531 million, which accounts for 89% of total revenue. It was a 20% year-over-year increase. Based on these numbers we can safely assume that Red Hat will be generating revenues around $ 2.415 billion in this fiscal year. That makes Red Hat the most successful pure open source company to date.
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Red Hat reports 13% growth in the second quarter, improved cloud and emerging technology sales, and an expanded revenue estimate for third quarter.
Whitehurst cited the cloud revenues, a small fraction of its total, as a sign that Red Hat has a firm grip on future revenues based on cloud computing.