Rackspace, Cloud Computing Service Provider Company Maintains Substantial Business Growth in Q2

Rackspace, Cloud Computing Service Provider Company Maintains Substantial Business Growth in Q2

The increase in the revenue of giant cloud computing service provider for Q2 boasted the share value by 16 percent with net income of $22 million.

rackspaceGREATRESPONDER.COM – Rackspace, the provider of cloud computing based services announced its financial details for the second quarter of the current fiscal year on Monday, August 11, 2014. According to the announcement made by the giant provider of cloud computing services, the net income for the second quarter soared to $22 million, which is higher than the earnings of the previous quarter. The net revenue of the company contributes as much as 16% of growth in per share of the company.

It was further announced in the official statement of the company that, the Non-GAAP earnings of the company were recorded at 16% per share. This ratio was calculated on total revenue of $441 million. The company further announced that the number of its cloud computing based servers has increased from 106,229 to 107,657 with more than 1400 increase as compared to the previous quarter.

In his official statement, the CEO of the Company Mr. Graham Weston said, “We added thousands of new customers, including one of our largest ever, and we saw solid growth from existing customers like Under Armour, SunPower and Alex and Ani. We generated a company record $20 million in incremental revenue in the quarter and revenue per server was an all time high. Total revenue grew 4.3 percent on a constant currency basis, which was the highest rate of growth that we’ve generated since the fourth quarter of 2012.”

It was also informed through the official statement that the launch of OnMetal Cloud Servers and the next steps for the Object Rockets for MongoDB database were the key contributors to this substantial growth of the company revenue.

While talking about the increase in human resources and other resources of the company, it was maintained that company’s employee’s count was also up by about 55 persons. The total count of current employee strength stands at 5,798.

This is important to note that Wall Street estimated the total earning of the Rackspace at about $436.91 million in revenue with an increase of 16% in each share of the company. But, company recorded a bit more than that expected targets of the company revenue.