Rackspace Technology Inc reports results for the quarter - Earnings Summary

Rackspace Technology

13/11/2024 14:27

* Rackspace Technology Inc  RXT.OQ  reported a quarterly
adjusted
loss of 5 cents​​ per share for the quarter , lower than the
same quarter last year, when the company reported EPS of -4
cents.  The mean expectation of six analysts for the quarter was
for a loss of 7 cents per share. Wall Street expected results to
range from -8 cents to -7 cents per share.
    * Revenue fell 7.7% to $675.80 million from a year ago;
analysts
expected $674.98 million. 
    * Rackspace Technology Inc's reported EPS for the quarter
was a
loss of 82 cents​.
    * The company reported a quarterly loss of $186.6 million.
    * Rackspace Technology Inc shares had risen by 16.7% this
quarter and gained 43.0% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts was unchanged in
the last
three months.​ 
    * In the last 30 days, there have been no earnings estimate
revisions by analysts covering the company.

RECOMMENDATIONS
    * The current average analyst rating on the shares is "hold"
and
the breakdown of recommendations is 1 "strong buy" or "buy," 4
"hold" and 1 "sell" or "strong sell." 
    * The average consensus recommendation for the it services &
consulting peer group is also "hold"

Wall Street's median 12-month price target for Rackspace
Technology Inc is 2.75 
This summary was machine generated from LSEG data November 13 at
02:27 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Sep. 30 2024      -0.07          -0.05          Beat
 Jun. 30 2024      -0.11          -0.08          Beat
 Mar. 31 2024      -0.13          -0.11          Beat
 Dec. 31 2023      -0.04          -0.03          Beat