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This chapter reviews the important approaches and techniques for addressing power and performance management problems in a datacenter. Next, it discusses a problem related to maximization of the profit in a hosting datacenter or cloud computing system and proposes an efficient solution. A review of some of the approaches and techniques addressing power management and performance management is presented. A system model for the profit maximization problem is explained. The chapter describes the problem formulation and the proposed solution. A model based on the multitier applications is presented and the guarantee-based service level agreement (SLA) is used to model the profit in the system. Two models of the SLA are considered: (i) the Gold SLA class and (ii) Bronze SLA class. The chapter concludes with simulation results.