Rackspace (RAX) Tops Q2 EPS by 16c,; Guides Q3 Revs Below the Street

Rackspace (NYSE: RAX) reported Q2 EPS of $0.38, $0.16 better than the analyst estimate of $0.22. Revenue for the quarter came in at $524 million versus the consensus estimate of $521.19 million.

"Demand is scaling rapidly for the expertise and managed services that we provide to businesses that use AWS, the Microsoft Cloud, and our OpenStack private cloud," said Taylor Rhodes, president and CEO of Rackspace. "We now serve almost 600 customers on these platforms, including some of the world's largest companies. During the second quarter, we demonstrated continued revenue growth, along with higher profitability, higher capital efficiency, strong operating cash flow and record free cash flow."

GUIDANCE:

Rackspace sees Q3 2016 revenue of $510-515 million, versus the consensus of $530.14 million.

For earnings history and earnings-related data on Rackspace (RAX) click here.

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