Red Hat falls on currency rates

The maker of Linux software shares fell 6.2% to 53 on Thurs. after releasing weaker than expected outlook Wed. following the market close. Red Hat (RHT) said Q1 EPS rose 25% to 30 cents. Revenue rose 19% from the year-earlier quarter to $314.7 mil, also beating views. But its billings missed expectations, growing only 16% vs. analysts expectations of 20%-22%. The miss comes from outside factors like foreign currency exchange, according to an analyst for Cowen & Co. The company sees Q2 revenue of $320 mil-$322 mil, below estimates of $330.8 mil.