Author Topic: Technology: Rackspace Down On Slowing Cloud Computing Growth  (Read 493 times)

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Technology: Rackspace Down On Slowing Cloud Computing Growth
« on: February 18, 2013, 01:29:12 PM »
Rackspace Down On Slowing Cloud Computing Growth

Rackspace Hosting late Tuesday reported fourth-quarter sales below estimates, as cloud computing growth slowed, sending shares down in after-hours trading. Rackspace (RAX) said Q4 revenue rose 24.5% to $352.9 million. Analysts polled by Thomson Reuters expected sales of $355.4 million. Rackspace posted Q4 profit, minus items, of 21 cents a share, up 17% from a year earlier, in-line with estimates. Rackspace garnered 24.7% of Q4 sales from cloud

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