http://www.morningstar.com/earnings/55293737-rackspace-hosting-inc-rax-q2-2013.aspx

Rackspace Hosting Inc RAX
Q2 2013 Earnings Call Transcript

Transcript Call Date 08/08/2013

Operator: Good afternoon, ladies and gentlemen, and welcome to Rackspace's Second Quarter 2013 Earnings Release Conference Call. As a reminder, this call is being recorded. At this time, all lines are in a listen-only mode to prevent background noise. After the prepared remarks, there will be a question-and-answer session.

It is now my pleasure to introduce Mr. Jason Luce, Vice President of Finance for Rackspace. Mr. Luce, you may begin.

Jason Luce - VP, Finance: Hello, everyone. Welcome to Rackspace's second quarter 2013 earnings conference call.

We hope that you have had a chance to read our press release which we issued earlier today. If you don't have a copy of the press release, please visit our Investor Relations page of our website at ir.rackspace.com. This call is also being webcast online and can be accessed through our Investor Relations site. For Rackspace on the call today will be Lanham Napier, Chief Executive Officer and Karl Pichler, Chief Financial Officer.

I need to remind you that some of the comments we will make today are forward-looking statements, including statements regarding expected operations and business results, our growth plans and expectations, the impact of new platforms, product or services and our expected level of capital expenditures. These statements involve a number of risks and uncertainties that could cause actual results to differ materially. These risks and uncertainties include things like; one, continued market acceptance of our public cloud platform and products; two, the continued adoption of OpenStack as the open source cloud computing platform standard; three, increasing competition in our industry; four, unfavorable economic conditions; and five, other risks that are described in our SEC filings. Please note that these forward-looking statements reflect our opinions only at the date of this presentation and we undertake no obligation to revise or publicly release the results of any revisions to these forward-looking statements in light of new information or future events.

Please also note, that certain financial measures we will use during the call today, such as adjusted EBITDA are expressed on a non-GAAP basis and that our GAAP results and GAAP to non-GAAP reconciliation can be found in our earnings release, which is currently posted on the Investor page of our website. After our prepared remarks this afternoon, we will be happy to take your questions.

I will now turn the call over to Lanham. Lanham?

Lanham Napier - CEO: Good afternoon. Thank you for joining us today. At the beginning of the year, we said that 2013 would be a transformational year for Rackspace. With the first half of the year complete, I think we have made good progress on our journey to build the greatest hybrid cloud company in the industry.

As you can see from our second quarter results, most of our key growth metrics improved on a sequential basis. Our spending increased, reflecting our decision to continue our aggressive investment plans aimed at accelerating the growth rate of our Company.

Read our Earnings Call Transcript disclaimer.
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