Red Hat Says Loss Narrows, Stock Soars

Red Hat Inc. reported a lower-than-expected quarterly loss, sending its shares soaring in after-hours trading. Red Hat said its fiscal first-quarter loss narrowed to $2.5 million, or 2 cents a share, from $3.8 million, or 8 cents, a year ago. Analysts expected a loss of 4 cents. Shares in the Research Triangle Park, N.C.-based company climbed to $24.39 on the Instinet electronic brokerage system, after closing at $23.38, up 88 cents, on Nasdaq.