Rackspace Tops Q3 Earnings Views, Sets Stock Buyback

By | November 11, 2014

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Rackspace Hosting (RAX) late Monday reported Q3 earnings that topped views and announced a $500 million stock repurchase program. San Antonio, Tex.-based Rackspace’s stock rose nearly 5% in pre-market trading Tuesday in the stock market today. Rackspace’s stock fell in September when it ended a strategic review without finding a buyer for the company. Rackspace provides cloud computing and web hosting services. Rackspace has struggled vs. bigger Scalper1 News

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