Rackspace Hosting has reported net revenue of $214.7m for the fourth quarter of 2010, an increase of 26.7% as compared to $169.5m for the same period last year.
Managed hosting revenue of the company increased to $183.3m, up from $152.3m in the fourth quarter of 2009. Cloud revenue increased to $31.4m in the quarter, up from $17.1m.
For the quarter ended 31 December 2010, the company posted an operating income of $23.4m, an increase of 49% as compared to $15.7m for the same quarter of 2009.
Operating expenses increased to $191.3m from $153.8m of the fourth quarter of 2009.
The company posted a net income of $13.5m, an increase of 50% compared to $9.03m for the year-ago quarter. Diluted net income per share for the quarter was $0.10, compared to $0.07 for to Q4 FY09.
For the fiscal year 2010, net revenues, operating income and net income increased to $780.6m, $79.6m and $46.3m, respectively from $628.9m, $55.2m and $30.2m for FY09.
Rackspace president and CEO Lanham Napier said while they are pleased that they achieved their goals for 2010, they have even more ambitious plans for 2011 that are designed to position them to succeed well in the future.
