Rackspace Hosting Inc. (RAX) Is Up Sharply After Q2 Profit Beats Expectations

Rackspace Hosting Inc. (RAX) reported second quarter EPS of $0.16 after the bell Thursday, down from $0.18 last year. Net revenues were $376 million. The consensus estimates were for EPS of $0.13 and revenues of $372.25 million. The stock is now up 5.19 on 347K shares.

Rackspace Hosting gapped open higher Thursday, but declined during the first hour of trade. Shares finished with a loss of $0.85 at $44.22 on above average volume. The stock slipped to a 2-week low.

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