Rackspace Tech: Q2 Earnings Insights

Rackspace Tech: Q2 Earnings Insights

 

Rackspace Tech RXT reported its Q2 earnings results on Tuesday, August 9, 2022 at 04:00 PM.

Here's what investors need to know about the announcement.

Earnings

Rackspace Tech beat estimated earnings by 6.25%, reporting an EPS of $0.17 versus an estimate of $0.16.

Revenue was up $28.40 million from the same period last year.

Past Earnings Performance

Last quarter the company beat on EPS by $0.01 which was followed by a 5.33% drop in the share price the next day.

Here's a look at Rackspace Tech's past performance:

 

Quarter Q1 2022 Q4 2021 Q3 2021 Q2 2021
EPS Estimate 0.21 0.24 0.24 0.22
EPS Actual 0.22 0.25 0.25 0.24
Revenue Estimate 774.49M 771.22M 756.00M 740.66M
Revenue Actual 775.50M 777.30M 762.50M 743.80M

New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).

Guidance

Rackspace Tech management provided guidance for Q3 2022, expecting earnings between $0.08 and $0.1 per share.

To track all earnings releases for Rackspace Tech visit their earnings calendar here.

This article was generated by Benzinga's automated content engine and reviewed by an editor.

Posted In: BZI-RecapsEarnings