Originally published at www.seclive.com
Rackspace Hosting, Inc. (RAX) announced its third fiscal quarter financial results, reporting earnings that improved 2% from the year-ago period. The open cloud company increased its servers from 98,884 to 101,967 while net revenue climbed 3.4% from the consecutive quarter to $389M, or 16% from the year ago quarter. Operational highlights for the company include the integration of higher performance cloud servers that increase speed and reliability, allowing customers to more efficiently access data and applications. Rackspace cash and cash equivalents totaled $270M while debt obligations amounted to $73M. The company's earnings this quarter fell short of analyst expectations while revenue slightly edged out, with $0.11 per share on $388.6M in revenue. Analysts were expecting $0.16 per share on $387.8M revenues.
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