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Rackspace revenue jumps 16 pct as web hosting demand rises

May 12 (Reuters) - Rackspace Hosting Inc reported a 16 percent jump in quarterly revenue, helped by higher demand for its web-hosting services.

The company's net income fell to $25.4 million, or 18 cents per share, in the quarter ended March 31, from $27 million, or 19 cents per share, a year earlier.

Revenue rose to $421 million from $362.2 million.

(Reporting by Soham Chatterjee; Editing by Sriraj Kalluvila)