Boston, MA 05/14/2014 (wallstreetpr) – Recently, Rackspace Hosting, Inc. (NYSE:RAX) has disclosed the Q1 financial results for the year 2014. The company has shown good performance, which can be called solid as far as the revenue is concerned, which has witnessed an increase. The increase in revenue by the company is not only on a year-over-year basis but also on a quarter-over-quarter basis.
Therefore, it can be concluded that Rackspace Hosting, Inc. (NYSE:RAX)’s performance is improving, and it is headed towards progress. The company is progressing and moving ahead on its path to success. Rackspace Hosting has to continue performing in this manner if success is to be achieved. There has to be a balanced growth in all the sectors that Rackspace Hosting is currently pursuing.
Q1 results divulged
Rackspace Hosting, Inc. (NYSE:RAX) has reported the net revenue of the company to amount to the total sum of $421 million, which has witnessed a 3.2% increase as compared to the last quarter of 2013. The net revenue has also increased by 16% as compared to the first quarter of the year 2013.
The company revealed in its financial report that the revenues were impacted in a favorable manner by the currency exchange rates. The positive impact from currency exchange lead to a $2.4 increase in comparison to the last quarter and an increase of $6.6 million as compared to the last year’s first quarter.
Rackspace Hosting, Inc. (NYSE:RAX)’s Chairman and Chief Executive Officer, namely, Graham Weston, said that the first quarter’s growth was at par with the company’s expectations, and they are expecting a growth rate to go up in the coming quarter. He revealed that the positive results have proved as an encouragement for the company to continue doing the good work and inspired them to strive harder in order to achieve success. He revealed that Rackspace Hostinghas welcomed thousands of new customers in this quarter due to many qualitative factors.
