Cloud Hosting Company Rackspace Forecasts 14 To 18 Percent Revenue Growth in 2015

For the first quarter of 2015, managed cloud hosting provider Rackspace expects revenue to grow between 2 percent and 3.5 percent. For the full year 2015, Rackspace expects revenue to grow between 14 percent and 18 percent on a constant currency basis. The revenue growth forecast builds on solid growth in the fourth quarter of 2014.

cloud-hosting-rackspaceOn a GAAP basis, net revenue for the fourth quarter of 2014 was $472 million, up 15.8 percent from the fourth quarter of 2013. On a constant currency basis, net revenue grew 16.4 percent from the fourth quarter of 2013. On a worldwide basis, Rackspace employed 5,936 Rackers as of December 31, 2014.

“The strong growth and improving margins that we’ve posted demonstrate the traction that we’re gaining as the leader of the managed cloud segment,” said Taylor Rhodes, president and CEO of Rackspace. “We will build on this momentum in 2015 by expanding the specialized expertise that we offer in areas such as ecommerce, big data and security. We’re helping more and more businesses leverage the power of the cloud without the pain of managing complex new technologies by themselves.”

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