Rackspace Tech Sees Q2 2024 Adj. EPS $(0.09)-$(0.11) Vs $(0.11) Est.; Revenue $668M-$678M Vs $675.764M Est.
Portfolio Pulse from Benzinga Newsdesk
Rackspace Technology projects its Q2 2024 adjusted EPS to be between $(0.09) and $(0.11), compared to the $(0.11) estimate. Revenue is expected to be between $668M and $678M, versus the estimated $675.764M.
May 09, 2024 | 8:27 pm
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NEUTRAL IMPACT
Rackspace Technology anticipates its Q2 2024 adjusted EPS to range from $(0.09) to $(0.11), closely matching the $(0.11) analyst estimate. Revenue forecasts are set between $668M and $678M, closely aligning with the $675.764M estimate.
Rackspace Technology's guidance for Q2 2024 shows its adjusted EPS and revenue projections are in line with analyst expectations, indicating a neutral short-term impact on its stock price. The company's ability to meet these forecasts reflects stability in its financial performance, which is likely to be viewed positively by investors. However, since the projections are closely aligned with estimates, the immediate market reaction may be muted, hence the neutral score.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100