Rackspace Hosting (RAX) Tops Q1 EPS by 6c

Rackspace Hosting (NYSE: RAX) reported Q1 EPS of $0.18, $0.06 better than the analyst estimate of $0.12. Revenue for the quarter came in at $421 million versus the consensus estimate of $419.63 million.

“Our first quarter revenue growth came in as expected and we expect growth to improve in the second quarter,” said Graham Weston, Chairman and CEO. “We are encouraged by qualitative factors, including the thousands of new customers we added in the quarter, including one of the largest we’ve ever landed. We also added significant new workloads for existing customers including Alex and Ani, Appboy, Clarks shoes, Under Armour and SunPower. Each of these customers values our managed cloud approach and chose us over providers of less expensive unmanaged infrastructure.”

Rackspace Hosting sees Q2 2014 revenue of $434-440 million, versus the consensus of $435.5 million.

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

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