Rackspace Tech RXT reported its Q4 earnings results on Tuesday, March 12, 2024 at 04:10 PM.
Here's what investors need to know about the announcement.
Earnings
Rackspace Tech beat estimated earnings by 25.0%, reporting an EPS of $-0.03 versus an estimate of $-0.04.
Revenue was down $67.30 million from the same period last year.
Past Earnings Performance
Last quarter the company beat on EPS by $0.01 which was followed by a 2.0% drop in the share price the next day.
Here's a look at Rackspace Tech's past performance:
| Quarter | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 |
|---|---|---|---|---|
| EPS Estimate | -0.05 | -0.08 | -0.03 | 0.05 |
| EPS Actual | -0.04 | -0.06 | -0.02 | 0.06 |
| Revenue Estimate | 726.90M | 730.44M | 756.64M | 776.30M |
| Revenue Actual | 732.40M | 746.30M | 758.70M | 787.00M |
New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).
Guidance
Rackspace Tech management provided guidance for Q1 2024, expecting earnings between $-0.14 and $-0.12 per share.
To track all earnings releases for Rackspace Tech visit their earnings calendar here.
This article was generated by Benzinga's automated content engine and reviewed by an editor.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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