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Actionable news in RAX: RACKSPACE HOSTING Inc,

Rackspace Hosting (RAX) Stock Falls in After-Hours Trading After Q1 Revenue Misses Estimates

NEW YORK (TheStreet) -- Rackspace Hosting (RAX - Get Report) stock is retreating by 5.06% to $21.40 in after-hours trading on Monday, after the cloud services provider reported lower-than-expected revenue for the 2016 first quarter.

The San Antonio-based company reported revenue of $518.1 million for the three months ended March 31, missing estimates of $518.95 million.

Revenue increased by 7.9% year over year and was affected by unfavorable foreign exchange rates and the sales of the Jungle Disk unit. On a constant currency basis, revenue was up 9.9%.

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