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Rackspace Q2 Revs Top Ests Despite Outage Credits

August 10, 2009
by Eric Savitz
Blogger and Columnist, Barron's, Tech Trader Daily

Eric Savitz

Rackspace (RAX) posted Q2 revenue of $152 million, above the Street consensus of $149 million. Results for the quarter reflect $2.4 million in credits related to service interruption at the Web hosting company, offset by $2.7 million currency benefits. Fully diluted profits of five cents a share missed the Street by a penny.

Rackspace also said it now sees total 2009 capital spending of $165 million to $185 million, up from a previous forecast of $120 million to $160 million.

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