Rackspace Tech Q2 EPS $(0.06) Beats $(0.08) Estimate, Sales $746.00M Beat $730.44M Estimate
Portfolio Pulse from Benzinga Newsdesk
Rackspace Tech (NASDAQ:RXT) reported Q2 losses of $(0.06) per share, beating the analyst consensus estimate of $(0.08) by 25 percent. This is a 135.29 percent decrease over earnings of $0.17 per share from the same period last year. The company also reported quarterly sales of $746.00 million, beating the analyst consensus estimate of $730.44 million by 2.13 percent, but a 3.39 percent decrease over sales of $772.20 million the same period last year.
August 08, 2023 | 8:12 pm
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NEUTRAL IMPACT
Rackspace Tech reported better than expected Q2 results but showed a decrease in both earnings and sales compared to the same period last year.
While Rackspace Tech beat the analyst consensus estimates for Q2, the decrease in both earnings and sales compared to the same period last year could potentially offset any positive impact from the earnings beat. This could lead to a neutral short term price direction.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100