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Rackspace Sees OpenStack Public Cloud Demand Slowing

The key to running a profitable cloud business for Rackspace likely doesn’t rely on infrastructure but rather on support for multiple cloud infrastructures, including OpenStack.

Rackspace reported its third quarter fiscal 2015 results on November 9, with revenue coming in at $509 million, for a 10.7 percent year-over-year gain. Net income was reported at $36.5 million, up from the $25.7 million reported in the third quarter of 2014