February 23, 2009 (HOSTSEARCH.COM) The fourth quarter financial results of Rackspace Hosting Inc
(RAX.N) proved better than analysts predicted, a number of sources reported recently. Earnings per Share (EPS) for the period was $0.06 against an estimated $0.02 while revenues of $143.1 million also proved better than expected a 34.2% increase on the same period the previous year. Reuters cited strong demand from websites and web-based IT systems as one of the reasons for the companies performance alongside a move into the Cloud computing.
"Two acquisitions and the cloud strategy launch late last year added significantly to our product and services set," Reuters quoted the companys President and Chief Executive Officer Lanham Napier as saying in a statement. The better than expected results pushed the company up on Nasdaq, rising 2.25% to $4.50.
Based in San Antonio, USA, Rackspace offers hosted IT systems and computing to businesses of all sizes. The company's portfolio includes managed hosting (http://www.rackspace.com), email hosting (http://www.mailtrust.com) and cloud hosting (http://www.mosso.com). Rackspace was recognized as one of FORTUNE Magazine's 100 Best companies to work for in 2008.