Rackspace Tech: Q1 Earnings Insights

Rackspace Tech RXT reported its Q1 earnings results on Tuesday, May 10, 2022 at 04:00 PM.

Here's what investors need to know about the announcement.

Rackspace Tech beat estimated earnings by 4.76%, reporting an EPS of $0.22 versus an estimate of $0.21.

Revenue was up $49.60 million from the same period last year.

Last quarter the company beat on EPS by $0.01 which was followed by a 12.81% drop in the share price the next day.

Here's a look at Rackspace Tech's past performance:

Quarter	Q4 2021	Q3 2021	Q2 2021	Q1 2021
EPS Estimate	0.24	0.24	0.22	0.21
EPS Actual	0.25	0.25	0.24	0.23
Revenue Estimate	771.22M	756.00M	740.66M	724.08M
Revenue Actual	777.30M	762.50M	743.80M	725.90M

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).

Rackspace Tech management provided guidance for Q2 2022, expecting earnings between $0.15 and $0.17 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.

Earnings Calendar