Credit Suisse Downgrades Rackspace (RAX) to Neutral

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Go back to Credit Suisse Downgrades Rackspace (RAX) to Neutral

Rackspace Reports Fourth Quarter Results

February 16, 2016 4:06 PM EST

SAN ANTONIO, TX  -- (Marketwired) -- 02/16/16 -- Rackspace® (NYSE: RAX), the #1 managed cloud company, today announced financial results for the quarter that ended December 31, 2015.

On a GAAP basis, net revenue for the fourth quarter of 2015 was $523 million, up 10.7 percent from the fourth quarter of 2014. These results were adversely affected by shifts in currency exchange rates. On a constant currency basis, net revenue grew 12.0 percent from the fourth quarter of 2014.

Adjusted EBITDA for the fourth quarter of 2015 was $184 million, for a margin of 35.1 percent, up 11.0... More