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.

Earnings

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.

Past Earnings Performance

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:

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 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.