Rackspace saw its cloud revenue hit the stratosphere during the fourth quarter of 2010, according to its financial results just issued. The managed hosting and cloud provider reported “cloud revenue” of US$31.4 million during the quarter, up approximately 83.4% year over year, bringing the company’s total 2010 cloud revenue to US$100.7 million. Perhaps more telling about the future of Rackspace’s business, though, is the increasing percentage of overall revenue attributed to cloud computing.

Cloud revenue - which isn’t defined but which likely comes from Rackspace’s Cloud Servers, Cloud Files and Cloud Sites offerings – accounted for approximately 14.6% of Rackspace’s total quarterly revenue of US$214.7 million, up from approximately 12.3% of total revenue in the second quarter and 13.4% t in the third quarter.

Source: Gigacom

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