IDG Contributor Network: Red Hat expected to rake in $2.4 billion in revenue this year

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 qua