Rackspace Tech Q3 revenue $676M (-8% YoY); net loss $(0.82)/share

Rackspace Technology, Inc.

2024-Q3 EPS reported -$3.59 revenue$2,051,500,000

Revenue $676M, down 8% YoY; Private Cloud -14% to $258M, Public Cloud -3% to $418M.
Net loss $(187)M vs $(227)M a year ago; Non-GAAP op profit $34M, down 25% YoY.
Q4 guidance: revenue $668-$680M; Non-GAAP op profit $34-$36M; EPS loss $(0.03)-(0.05).
Public Cloud posted record bookings quarter; overall bookings grew double digits.
Cash from ops $52M; cash $157M; undrawn revolver $375M.

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