Red Hat announced its financial results for the second quarter of fiscal year 2016.
Total revenue for the second quarter ended Augus 31, 2015 was $504 million, with an increase of 13% from the same quarter last year. Looking at the financial details we can see that total subscription revenue earned for the quarter was $363 million, with an increase of 9% year-over-year. Operating cash flow for second quarter was of $120 million, up 12% year-over-year, total cash and cash equivalents and investment was $2.0 billion after repurchising about $70 million.
GAAP operating income for the second quarter was $76 million, with an increase of 19% year-over-year. For the second quarter, GAAP operating margin was 15.2%. Non-GAAP operating income was $123 million, up 13% and non-GAAP operating margin was 24.4%.
GAAP net income for the quarter was $51 million, or $0.28 per diluted share, in comparison with $47 million, or $0.25 per diluted share, in the year ago quarter. Operating cash flow was $120 million for the second quarter with an increase of 12% year-over-year. Total deferred revenue balance was $1.41 billion, up 13% on a year-over-year basis.
Jim Whitehurst, President and Chief Executive Officer of Red Hat, stated:
Strong execution in Q2 contributed to total revenue results that exceeded 21% year-over-year growth on a constant currency basis. We were pleased with the progress of our technologies that address cloud deployments across multiple footprints. Specifically in this quarter, we achieved a public cloud milestone in our Certified Cloud and Service Provider program of an annualized run-rate of $100 million. We are also thrilled to be the first open source company to achieve an annualized run-rate of $2 billion in revenue this quarter. In addition, we believe Red Hat is well-positioned for the second half of the fiscal year as we continue to benefit from delivering innovation to our customers.