Recap: Rackspace Tech Q4 Earnings
Portfolio Pulse from Benzinga Insights
Rackspace Tech (NASDAQ:RXT) reported Q4 earnings, beating estimates with an EPS of $-0.03 against an expected $-0.04, but saw a revenue decline of $67.30 million year-over-year. The company's past performance shows mixed results in earnings beats and misses, with guidance for Q1 2024 projecting earnings between $-0.14 and $-0.12 per share.
March 12, 2024 | 8:50 pm
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Rackspace Tech reported a Q4 earnings beat but experienced a significant revenue decline year-over-year. The company provided weaker guidance for Q1 2024.
The earnings beat may initially be seen as positive, but the significant revenue decline and weaker guidance for the next quarter are likely to concern investors. Historically, the company's stock price dropped 2.0% following the last earnings beat, indicating that investors may focus more on revenue performance and future guidance than on beating EPS estimates.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100