Aug 7 (Reuters) - Rackspace Hosting Inc reported a rise in its second-quarter profit, helped b
y increased demand from small-sized cloud computing firms looking to host their applications on the Web.
Net income for the second quarter was $25.1 million, or 18 cents a share, compared with $17.6 million, or 13 cents per share, a year ago.
Revenue for the company, which provides managed hosting services, rose 29 percent to $319.0 million.
(Reporting by Siddharth Cavale and Supantha Mukherjee in Bangalore; Editing by Sreejiraj Eluvangal)
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Keywords: RACKSPACE RESULTS/
Aug 7 (Reuters) - Web hosting company Rackspace Hosting Inc's second-quarter sales beat Wall Street expectations on strong demand from small and mid-sized businesses looking to host applications in the cloud amid a sluggish macro economy.
Net income rose to $25.1 million, or 18 cents per share, from $17.6 million, or 13 cents per share, a year ago.
Rackspace's revenue, which has witnessed double-digit growth since 2009, rose 29 percent to $319 million in the second quarter.
Analysts on average had been expecting the company, which competes with Equinix Inc and Internap Network Services Corp, to earn 18 cents per share on revenue of $317.7 million, according to Thomson Reuters I/B/E/S.
The San Antonio, Texas-based company's shares, which have gained about a third of its value in the last one year, were up 3 percent at $52.34 in after-market trading. They closed at $49.30 on the New York Stock Exchange on Tuesday.
(Reporting by Siddharth Cavale, Supantha Mukherjee and Aurindom Mukherjee in Bangalore; Editing by Sreejiraj Eluvangal) Keywords: RACKSPACE RESULTS/
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