Morgan Stanley Downgrades Rackspace (RAX) to Equalweight

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Go back to Morgan Stanley Downgrades Rackspace (RAX) to Equalweight

Rackspace Reports Solid First Quarter Revenue and Margins

May 11, 2015 4:01 PM EDT

SAN ANTONIO, TX -- (Marketwired) -- 05/11/15 -- Rackspace® (NYSE: RAX), the #1 managed cloud company, today announced financial results for the quarter that ended March 31, 2015.

On a GAAP basis, net revenue for the first quarter of 2015 was $480 million, up 14.1 percent from the first quarter of 2014. These results were adversely affected by shifts in currency exchange rates. On a constant currency basis, net revenue grew 16.6 percent from the first quarter of 2014.

Adjusted EBITDA for the quarter was $161 million, up 15.5 percent from the first quarter of 2014. Net income... More