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Rackspace Grows Revenue as Cloud Pricing Races to Bottom

May 13, 2014, 19:00 (0 Talkback[s])
(Other stories by Sean Michael Kerner)

There is money to be made in the cloud, even in an era where the Amazon and Google are in a race to the bottom for pricing. That's the message coming from Rackspace's management during the company's first quarter 2014 earnings call.

For the quarter, Rackspace reported net revenue of $421 million, for a 16 percent year-over-year gain. Net income for the quarter was reported at $25 million. Looking forward, Rackspace provides second quarter 2014 guidance for revenue in the range of $434 million to $440 million.

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