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Thread: RAX gets slammed post earnings
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02-14-2013, 04:57 PM #1Web Hosting Master
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RAX gets slammed post earnings
Not sure how many of you follow the stock market, but I figured its a very relevant topic since Rackspace is a hosting provider.
Did anyone see the 20% loss the stock took yesterday after reporting record sales, operating and net income.
Sales in the company’s cloud-computing service rose 49 percent to $87.3 million. The business now accounts for 25 percent of total sales, up from 21 percent a year ago.
Do you think the OpenStack cloud platform will continue to grow and be a success?Doug
Finance, Operations, and Business Executive
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02-14-2013, 05:04 PM #2Web Hosting Master
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It showed 17% profit growth on 25% sales growth, both missed the estimates and have decelerated for four straight quarters. The sales gain was the weakest since 2010.
If you pay peanuts, you get monkeys.
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02-14-2013, 05:09 PM #3Web Hosting Master
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02-14-2013, 06:21 PM #4Web Hosting Master
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It's a .com, people get all antsy about internet companies. The loss is more of a reflection of not understanding the technology/demand/use cases then raw numbers.
People don't want their money to pull a Facebook, I'm assuming. Not that I would buy into RAX anyway.Steven Crothers
No BS cloud engineer and Red Hat architect.
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