Tag Archives: rax

Rackspace Tops Q3 Earnings Views, Sets Stock Buyback

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

Rackspace Stock Plunges As Company Rules Out Sale

Rackspace Hosting (RAX) plunged Wednesday after the cloud service provider killed investor hopes that it would be acquired. Rackspace announced late Tuesday that it had ended its strategic review process and would remain independent. The cloud computing and Web hosting service provider named President Taylor Rhodes as chief executive. Rackspace also said it would not add debt to fund a stock repurchase program. Rackspace was down 15% in early

Video: Rackspace Revenue Tops, Execs Mum On Sale

Rackspace Hosting (RAX) late Monday reported Q2 profit flat from a year earlier, in line with views, as revenue rose 17%, ahead of expectations. Rackspace gave no update on a company sale on its earnings call. Shares in the cloud computing and Web hosting service company were little changed before the market open on the stock market today. San Antonio, Tex.-based Rackspace said it earned 16 cents per share, the same as a year earlier. Revenue