Rackspace Technology Q1 2024 Earnings Report

Rackspace Technology EPS Results

• Actual EPS: -$0.11
• Consensus EPS: -$0.13
• Beat/Miss: Beat by +$0.02
• One Year Ago EPS: -$0.02

Rackspace Technology Revenue Results

• Actual Revenue: $690.80 million
• Expected Revenue: $684.21 million
• Beat/Miss: Beat by +$6.59 million
• YoY Revenue Growth: -8.90%

Rackspace Technology Announcement Details

• Quarter: Q1 2024
• Date: 5/15/2024
• Time: After Market Closes

Rackspace Technology (NASDAQ:RXT) operates as a multi cloud technology services company in the Americas, Europe, the Middle East, Africa, and The Asia-Pacific region. It operates through three segments: Multicloud Services, Apps & Cross Platform, and OpenStack Public Cloud. The company provides public and private cloud managed services, which allow customers to determine, manage, and optimize the right infrastructure, platforms, and services; professional services related to designing and building multi cloud solutions and cloud-native applications; and managed hosting and colocation services. It also helps customers establish governance, operational, and architectural frameworks to mitigate risks and reduce inefficiencies to manage costs, achieve industry-specific compliance objectives, and enhance security. In addition, the company offers managed applications, including running large-scale SaaS applications for customers on its and public cloud infrastructure; managed security services in the areas of security threat assessment and prevention, threat detection and response, rapid remediation, governance, and risk and compliance assistance across multiple cloud platforms, as well as privacy and data protection services, including detailed access restrictions and reporting; data services; and professional services related to designing and implementing application, security, and data services. Rackspace Technology, Inc. was founded in 1998 and is headquartered in San Antonio, Texas.