Rackspace's Q1 Earnings Disappoint

Revenue was up for the cloud computing vendor, but it failed to meet analyst expectations.

ZDNet: Cloud computing vendor Rackspace announced that it earned $23.18 million, or 17 cents a share, on revenue of $301.35 million during the first quarter. Although that's a 31 percent year-over-year increase, it failed to meet Wall Street's expectations of 18 cents a share profit on revenue of $300.5 million. The company's stock price dropped significantly on the news.

The company also announced that it now has 180,866 customers and 82,438 servers. Average earnings per server came to $1,238 for the quarter.

Tags: cloud computing, earnings, Rackspace

0 Comments (click to add your comment)
Comment and Contribute


(Maximum characters: 1200). You have characters left.