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Rackspace results beat estimates as web-hosting demand rises

13
May
2014

(Reuters) – Rackspace Hosting Inc reported better-than-expected quarterly results as demand rose for its web-hosting services, and the company forecast current-quarter revenue above Wall Street estimates. Rackspace forecast revenue of $434 million-$440 million for the second quarter ending June. Analysts on average were expecting revenue of $435.5 million, according to Thomson Reuters I/B/E/S. \”We are encouraged by qualitative factors, including the thousands of new customers we added in the quarter …,\” Chief Executive Graham Weston said in a statement. Web-hosting companies such as Rackspace and competitors Equinix Inc and Internap Network Services Corp own or lease space on a server, typically housed in data centers.

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