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Profit and revenue grow for Rackspace
2015-11-10 02:36:02| IT Services - Topix.net
Shares, down 42% this year, rose 1.5% to $27.50 in late trading as results topped Wall Street projections. Rackspace, which last year called off a possible sale saying it failed to attract a high enough offer, has struggled to increase business since it changed its business model to focus on the so-called managed cloud market, selling bundled computing and support.
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