Recap: Rackspace Tech Q4 Earnings

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.

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.

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).

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.

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