Rackspace Doubles Down on OpenStack as CEO Retires

Cloud hosting vendor Rackspace reported its fourth quarter and full-year fiscal 2013 results late Monday as CEO Lanham Napier announced his retirement from the company.

Rackspace reported fourth quarter revenue of $408 million, which represents a 16 percent year-over-year gain. Net income was reported at $21 million for the quarter, for a 30 percent year-over-year decline. For the full year, revenue came in at $1.5 billion. Looking forward, Rackspace provided first quarter 2014 guidance for revenue to grow between 2 and 3.5 percent. For the full year, Rackspace expects revenue growth to range between 15 and 18 percent.

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