"During the conference call, management raised its year outlook for revenue by $45 million, to $1.12 billion to $1.13 billion from the prior range of $1.07 billion to $1.085 billion offered back in June. The company also raised its non non-GAAP EPS range for the year to $1.03 to $1.05 per share from a prior $0.98 to $1. That is above the $1.09 billion in revenue $1 per share analysts have been expecting, on average.
For Q3, Red Hat sees $288 million to $290 million in revenue, well above the average $274 million consensus. Non-GAAP EPS of 25 cents to 26 cents is in line to slightly above the average 25-cent estimate.
Management said it was also taking the unusual step of increasing its full-year operating cash flow projection, by $20 million, to a range of $350 million to $360 million."