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Rackspace expects revenue below estimates as price cuts weigh |
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Yahoo! Tech/Internet News
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05/08/2013 at 18:26:34 |
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By Neha Alawadhi (Reuters) - Rackspace Hosting Inc, which leases online storage space to companies, forecast current-quarter revenue below analysts' estimates as effects of product price cuts linger, sending its shares down 17 percent in after-hours trading. The company, which also reported lower-than-expected first-quarter results, reduced prices of its cloud bandwidth and content delivery network (CDN) by a third in late February. (http://link.reuters. ...
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