Rackspace Technology Inc reports results for the quarter ended in June - Earnings Summary

Rackspace Technology

09/08/2024 12:47

* Rackspace Technology Inc  RXT.OQ  reported a quarterly
adjusted
loss of 8 cents​​ per share for the quarter ended in June, lower
than the same quarter last year, when the company reported EPS
of -6 cents.  The mean expectation of six analysts for the
quarter was for a loss of 11 cents per share. Wall Street
expected results to range from -11 cents to -10 cents per share.
    * Revenue fell 8.2% to $684.90 million from a year ago;
analysts
expected $673.58 million. 
    * Rackspace Technology Inc's reported EPS for the quarter
was 11
cents​.
    * The company reported quarterly net income of $25 million.
    * Rackspace Technology Inc shares had fallen by 24.8% this
quarter and gained 12.0% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 0.1%
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 $2.30 
This summary was machine generated from LSEG data August 9 at
11:47 a.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
 Jan. 1 0001       -0.11          -0.08          Beat
 Mar. 31 2024      -0.13          -0.11          Beat
 Dec. 31 2023      -0.04          -0.03          Beat
 Sep. 30 2023      -0.05          -0.04          Beat