Rackspace Tech Q2 2024 Adj. EPS $(0.08) Beats $(0.11) Estimate, Sales $684.900M Beat $673.575M Estimate
Portfolio Pulse from Benzinga Newsdesk
Rackspace Technology (NASDAQ:RXT) reported Q2 2024 adjusted EPS of $(0.08), beating the $(0.11) estimate, and sales of $684.9M, beating the $673.575M estimate. Despite the beats, EPS decreased by 33.33% and sales decreased by 8.23% year-over-year.
August 08, 2024 | 8:44 pm
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Rackspace Technology reported better-than-expected Q2 2024 results with an adjusted EPS of $(0.08) beating the $(0.11) estimate and sales of $684.9M beating the $673.575M estimate. However, both EPS and sales showed a year-over-year decline.
The better-than-expected EPS and sales figures are likely to have a positive short-term impact on RXT's stock price. However, the year-over-year declines in both EPS and sales may temper investor enthusiasm.
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