Market Overview

Raxspace Up 8% After Beating Earnings Estimates

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Shares of Raxspace (NYSE: RAX) are up more than 8% after the company beat earnings estimates yesterday.

Net revenue for the fourth quarter of 2011 was $283 million, up 7.1% from the previous quarter and 32% from the fourth quarter of 2010. Net revenue for the fourth quarter of 2011 was negatively impacted by currency exchange rates when compared to the third quarter of 2011 by $1.6 million and negatively impacted compared to the fourth quarter of 2010 by $0.4 million.

Total server count increased to 79,805, up from 78,717 servers at the end of the previous quarter, and total customers increased to 172,510, up from 161,422 at the end of the previous quarter.

Posted-In: Earnings News Intraday Update Movers

 

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