Rackspace Tech Q3 Adj $(0.04) Beats $(0.05) Estimate, Sales $732.40M Beat $726.90M Estimate
Portfolio Pulse from Benzinga Newsdesk
Rackspace Tech (NASDAQ:RXT) reported Q3 losses of $(0.04) per share, beating the analyst consensus estimate of $(0.05) by 20%. This is a 140% decrease over earnings of $0.10 per share from the same period last year. The company also reported quarterly sales of $732.40 million, beating the analyst consensus estimate of $726.90 million by 0.76%. This is a 7.01% decrease over sales of $787.60 million the same period last year.
November 07, 2023 | 10:02 pm
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NEUTRAL IMPACT
Rackspace Tech's Q3 results beat estimates but showed a decrease compared to last year. Earnings per share decreased by 140% and sales decreased by 7.01%.
While Rackspace Tech beat analyst estimates for Q3, the company's earnings and sales have decreased compared to the same period last year. This mixed result could lead to neutral short-term price movement.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100