Rackspace published better-than-expected financial results for the fourth quarter and the full fiscal 2020 year. Revenue grew in Q4 thanks to growing customer spending in the Multicloud Services and Apps & Cross Platform segments. Analysts were expecting earnings of 23 cents per share on revenue of $701.79 million. Fourth quarter non-GAAP earnings per share came to 26 cents on revenue of $716 million, up 14 percent year-over-year. Full 2020 non-GAAP earnings were 83 cents per share on revenue of $2.707 billion, up 11 percent year-over-year.
In 2020 we made great progress towards becoming the leading pure play multicloud services and solutions company – Kevin M Jones, Rackspace CEO
We believe Rackspace Technology is extremely well positioned to capitalize on the tectonic shift to the cloud. We have the people, partners, expertise and automation to help customers of all sizes optimize their multicloud journey, all wrapped in the fanatical customer experience for which we are known. In 2020 we made great progress towards becoming the leading pure play multicloud services and solutions company and set the stage for years of incremental revenue growth, earnings growth, and enhancement of shareholder value.
Even cloud-native organizations are now having to focus on getting their multi-cloud strategy optimized – Paul Bevan, Research Director of IT Infrastructure for Bloor Research
Virtana’s latest survey highlights an issue IT organizations are coming across a lot, regardless of where they are in their cloud journey. In the drive to implement cloud-first, or cloud only strategies, many are stumbling over migrations and have had to repatriate applications back on-premises. Even cloud-native organizations are now having to focus on getting their multi-cloud strategy optimized. However we look at it, the cloud comes with its own challenges for everyone. Taking a ‘know before you go’ approach to the cloud is really a fundamental underpinning to a successful cloud implementation.
Our decade of observability and monitoring on-premises to multi-cloud environments removes the complexity of migrating to the cloud – Kash Shaikh, President and CEO of Virtana
With a strong confidence in public clouds going forward, and so many organizations getting public clouds wrong the first time, it is clear that organizations need greater observability into application behaviors, interdependencies, and public cloud costs before they make a move to the cloud. We are on a mission for enterprises to ‘Know Before They Go’ with a data-driven approach that yields actionable insights. Our decade of observability and monitoring on-premises to multi-cloud environments removes the complexity of migrating to the cloud and keeps it simple once applications and workloads are moved, resulting in 20% or more cloud cost savings.
As customers are looking to adopt a multi-cloud strategy, finding ways to do things consistently across clouds is becoming increasingly important – Joel Minnick, VP of marketing at Databricks
Oftentimes customers don’t necessarily want to teach their data teams how to do the same thing in multiple different ways and instead want to begin to standardize on one platform with one set of tools that can span all the different environments where their data lives. As customers are looking to adopt a multi-cloud strategy, finding ways to do things consistently across clouds is becoming increasingly important.
We help our customers navigate this world of digital transformation, multi-cloud environments and modern applications – Sandy Hogan, Senior Vice President, Vmware
VMware and our partners are definitely one of the coolest group of people in the cloud technology business. We help our customers navigate this world of digital transformation, multi-cloud environments and modern applications. A strong partner-first culture and a connected partner ecosystem have been key to helping our customers successfully streamline and accelerate their complex, dynamic digital business journeys.
Fortinet’s Adaptive Cloud Security Portfolio Enables Organizations to Protect all their Applications, Data and Workloads Regardless if they’re On-Premises, or in Multiple Clouds
Modern enterprise networks are diverse and often span multiple environments, each with its own unique requirements and standards. Securing each network ecosystem independently creates a challenge for consistent policy enforcement, transparency, and unified orchestration and response. Organizations are tasked with securing multiple network edges, often in hybrid cloud environments, while maintaining consistent, unified security operations. Fortinet’s Adaptive Cloud Security portfolio enables organizations to protect all their applications, data, and workloads regardless if they’re on-premises, or in multiple clouds. A similar challenge is trying to secure each edge while trying to impose a unified security policy. Single transactions can span many different applications and workflows, so security needs to be consistently applied at each point across the fabric—on the LAN, WAN, and cloud edges. Any and all dynamic connections need to be reliable and secure, from the data center to the cloud, between clouds, as well as among branch offices. Thus, cloud security needs to readily adapt to changing customer needs and digital innovation strategies as they evolve. Security should be consistent across private clouds and public clouds.
In the last decade, the importance of hybrid and multi-cloud has been cemented. Most enterprises have unlocked new hybrid use cases where applications can migrate seamlessly between private and public clouds. In addition, application developers needed to develop a single storage API to manage their data, allowing them to develop applications in their private or public cloud, and run them anywhere.
We will continue to see the hybrid cloud and multi-cloud. Why will we continue to see hybrids? Don’t look at what is changing; look at what is not changing. And what is not changing is that companies cannot just move everything into the cloud in a heartbeat. This will take them years, even if they’re fully behind the initiative. For that reason, you will continue to see hybrids. We are headed into a future where on-premise is seen as a legacy. Multi-cloud will also continue because of the ongoing war between Amazon, Google, and Microsoft. Big companies will continue to have multiple vendors. Why? Microsoft is omnipresent; almost everybody has Microsoft because of Windows and Office. Microsoft will come in with their cloud services – it’s inevitable. AWS has been very successful at establishing a landing in many organizations because it was the first in the cloud. However, some businesses don’t like AWS because they see Amazon as competition. Google has strength in AI and data processing and has been very successful here. I don’t predict that in the next few years we’ll see a winner in this race.
Biggest Challenge before Hybrid Multicloud Approach was Data Conversion – Scott Hunter, AstraZeneca’s Global Infrastructure Services Director
The important element of the data fabric used for hybrid multicloud was the movement of workloads from a private cloud to a public cloud – the benefits for scientists is they know the data is going to be available all of the time. The biggest challenge before the hybrid multicloud approach was data conversion. The data fabric allows us to effectively run NetApp in the cloud, so we don’t have to do any conversion – we can move data between on-premise and public cloud, and start the service as quickly as under 10 minutes.
SAP to invest INR 500 crore (€55 million) in India to localize and offer customers a multi-cloud choice
SAP announced it would invest INR 500 crore (€55 million) in India to localize and offer customers a multi-cloud choice. Underscoring its commitment to India, SAP will make available its multiple cloud solutions in India data centers. With one of the largest and most diverse business-to-business cloud portfolios, SAP India is a leading cloud company that is aggressively working toward addressing local customer demands. SAP further fortified its commitment to enterprises with the benefits of integrated cloud technologies to deliver the greatest flexibility and be data compliant under the upcoming Personal Data Protection Bill.