So there is a conflicting case.
No company is going to be perfect at hiring just the same way as no person is going to perfectly crush every interview. But there is no world where having contributed quality code to an open source project will hurt your chances.
Instead it's usually "Huh, you seem like you just might not be a complete dullard. Would you mind proving it to us by taking this 3-hour HackerRank test? 'Coz we know you've got nothing but time. And you'll go through just about any number of hoops to get us to pay attention to you."
† Even the ones who ask for it.
†† Even when we patiently and politely point out the gaps and ambiguities, sometimes quite glaring, in their cute little "challenge" problems. Which, again, many to occur in at least around half of these exercises.
Would be interesting to see which companies actually look at your github profile like they claim they do.
It's been done, still doesn't get you a job.
https://twitter.com/mxcl/status/608682016205344768