Rackspace beats earnings expectations, cloud services going strong
November 12, 2014
Grazed from TechTimes. Author: Chritian de Looper.
Rackspace’s financial results for the third quarter in 2014 show a better-than-expected jump of 18.3 percent in revenue from the same time last year. Revenue in the quarter was $460 million, up by 4.2 from the previous quarter. Net revenue was up by 4.4 percent from last quarter and 16.1 percent from last year.
"We are pleased with our operating performance this quarter and encouraged by the momentum we are seeing in the business," said Taylor Rhodes, president and CEO of Rackspace. "We are poised to capitalize on the massive opportunity ahead in the managed cloud market, where we see increasing demand for our managed services and expertise. And while we made strong progress this year, we’re determined to continually improve our execution and seize our future."…
The company also saw an increase in the number of servers, up to 110,453 from 107,657 servers at the end of the last quarter. Revenue per server also went up to $1,405 per month from $1,375 last quarter….
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