Category Archives: earnings

Even as cloud infrastructure growth slows, revenue rises over $30B for quarter

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The cloud market is coming into its own during the pandemic as the novel coronavirus forced many companies to accelerate plans to move to the cloud, even while the market was beginning to mature on its own. This week, the big three cloud infrastructure vendors — Amazon, Microsoft and Google — all reported their earnings, […] Continue reading Even as cloud infrastructure growth slows, revenue rises over $30B for quarter→

Rackspace preps IPO after going private in 2016 for $4.3B

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After going private in 2016 after accepting a $32 per share, or $4.3 billion, price from Apollo Global Management, Rackspace is looking once again to the public markets. First going public in 2008, Rackspace is taking second aim at a public offering around 12 years after its initial debut. The company describes its business as […] Continue reading Rackspace preps IPO after going private in 2016 for $4.3B→

Tech shares set fresh records despite uncertain economy

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Despite record-setting COVID-19 infections, American equities rose today. All major indices gained ground during regular trading, while tech stocks did even better. The Nasdaq Composite set new 52-week and all-time highs, touching 10,462.0 points before closing at 10,433.65, up 2.21% on the day. Similarly, a basket of SaaS and cloud companies that has risen and […] Continue reading Tech shares set fresh records despite uncertain economy→

SaaS earnings rise as pandemic pushes companies more rapidly to the cloud

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As the pandemic surged and companies moved from offices to working at home, they needed tools to ensure the continuity of their business operations. SaaS companies have always been focused on allowing work from anywhere there’s access to a computer and internet connection, and while the economy is reeling from COVID-19 fallout, modern software companies […] Continue reading SaaS earnings rise as pandemic pushes companies more rapidly to the cloud→

Remote work helps Zoom grow 169% in one year, posting $328.2M in Q1 revenue

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Today after the bell, video-chat service Zoom reported its Q1 earnings. The company disclosed that it generated $328.2 million in revenue, up 169% compared to the year-ago period. The company also reported $0.20 per-share in adjusted profit during the three-month period. Analysts, as averaged by Yahoo Finance, expected Zoom to report $202.48 million in revenue, […] Continue reading Remote work helps Zoom grow 169% in one year, posting $328.2M in Q1 revenue→

Salesforce stock is taking a hit today after lighter guidance in yesterday’s earning’s report

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In spite of a positive quarter with record revenue that beat analyst estimates, Salesforce stock was taking a hit today because of lighter guidance. Wall Street is a tough audience. The stock was down $8.29/share or 4.58% as of 2:15 pm ET. The guidance, which was a projection for next quarter’s earnings, was lighter than […] Continue reading Salesforce stock is taking a hit today after lighter guidance in yesterday’s earning’s report→

Equinix just recorded its 69th straight positive quarter

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There’s something to be said for consistency through good times and bad, and one company that has had a staggeringly consistent track record is international data center vendor, Equinix. It just recorded its 69th straight positive quarter, according to the company. That’s an astonishing record, and covers over 17 years of positive returns. That means […] Continue reading Equinix just recorded its 69th straight positive quarter→

In spite of pandemic (or maybe because of it), cloud infrastructure revenue soars

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It’s fair to say that even before the impact of COVID-19, companies had begun a steady march to the cloud. Maybe it wasn’t fast enough for AWS, as Andy Jassy made clear in his 2019 Re:invent keynote, but it was happening all the same and the steady revenue increases across the cloud infrastructure market bore […] Continue reading In spite of pandemic (or maybe because of it), cloud infrastructure revenue soars→