8-K
filed August 8, 2023, 7:59 PM ET
ticker RXT
CIK 0001810019
earnings
confidence high
sentiment negative
materiality 0.70
Rackspace Q2 revenue down 3% YoY; Non-GAAP operating profit plunges 60%
Rackspace Technology, Inc.
2023-Q2 EPS reported
-$2.98
revenue$1,505,000,000
- Revenue $746M (-3% YoY); Public Cloud +3% to $435M, Private Cloud -11% to $311M.
- GAAP net loss $27M ($0.13 diluted) vs $41M loss; Non-GAAP loss per share ($0.06) vs prior EPS $0.17.
- Non-GAAP operating profit $39M, down 60% from $99M; cash from ops $38M in Q2.
- Q3 guide: rev $722-732M, Public Cloud $428-433M, Private Cloud $294-299M, Non-GAAP op profit $43-47M.
- Launched Foundry for AI by Rackspace (FAIR) for generative AI solutions.
Key facts
Extracted from this filing and checked against the source text.
Earnings Releases
SEC 8-K Item 2.02
confidence 0.975
Rackspace Technology, Inc. reported the fiscal quarter ended June 30, 2023 results: revenue $746 million, net income $(27) million, EPS $(0.13).
- Period
- the fiscal quarter ended June 30, 2023
- Revenue
- $746 million
- Net income
- $(27) million
- EPS
- $(0.13)
- Result
- reported results
Exact text from the filing
filings, unless expressly incorporated by specific reference in such filing. --- EX-99.1 (EX-99.1) --- Rackspace Technology Reports Second Quarter 2023 Results • Revenue of $746 million in the Second Quarter, down 3% Year-over-Year • Public Cloud Revenue grew 3% Year-over-Year to $435 million • Private Cloud Revenue was $311 million, down 11% Year-over-Year •
View on SEC.gov
Earnings Releases
SEC 8-K Item 2.02
confidence 0.9
Rackspace Technology, Inc. updated its Q3 2023 guidance (initiated).
- Period
- Q3 2023
- Guidance
- initiated
- Result
- guidance update
Exact text from the filing
Rackspace Technology is providing guidance as follows: Q3 2023 Guidance Total Revenue $722 - $732 million
View on SEC.gov
This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice.
See methodology for how this pipeline works.