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Cloud vendor Rackspace reports earnings; Net Revenue 2008 up by 57% to $ 250 Million!

SAN ANTONIO--(BUSINESS WIRE)--Sept. 10, 2008--Rackspace(R) Hosting, Inc. (NYSE: RAX), the world's leading hosting services provider, today reported quarterly results for the quarter ended June 30, 2008. Summary results were provided in the company's S-1 filed on August 5, 2008 for its subsequent Initial Public Offering.

Rackspace continued to deliver on its growth strategy in the second quarter of 2008. Net revenues for the second quarter ended June 30, 2008 were $130.8 million, up 9.4% from the first quarter of 2008 and up 55.7% from the quarter ended June 30, 2007. Net revenues for the first six months of 2008 were $250.4 million, an increase of 57.3% relative to net revenues for the first six months of 2007. The installed base continued to provide a significant portion of growth during the second quarter 2008, growing at an average rate of 1.0% per month. Relative to the quarter ended March 31, 2008, customer count increased by 6.1% to more than 33,600 customers (including more than 13,800 mail customers) and server count increased by 6.7% to more than 42,400.

"We delivered strong growth despite a challenging macroeconomic environment, which demonstrates the strength of Rackspace's Fanatical Support(R) and its ability to win and keep customers in a tough climate," said Lanham Napier, president and chief executive officer, Rackspace Hosting. "We are seeing significant global growth, and we will continue to make disciplined, long-term investments in order to capitalize on the demand for hosting."

Press Release


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Avastu Blog is migrating to; 1st Jan 2009 live


I will send out emails personally to those who are using my link(s) on their sites.

Thanks much for your co-operation and hope you enjoy the new site and its cool new features :-)

Not like the site is unlive or something..on the contrary, its beginning to get a lot of attention already. Well most of the work is done, you don't have to worry about anything though:

What won't change

Links/Referrals: I will be redirecting the links (all links which you may have cross-posted) to - so you don't have to do anything in all your posts and links. Although, I would urge however that you do change the permalinks, especially on your blogs etc yourselfThis blog is not going away anywhere but within a few months, I will consider discontinuing its usage. I won't obviously do …