Rackspace Technology, Inc.

Rackspace Technology, Inc. engages in the provision of end-to-end multi-cloud technology services. The firm designs, builds and operates its customers’ cloud environments across technology platforms. It operates through the following segments: Multicloud Services and Apps & Cross Platform. The Multicloud Services segment includes public and private cloud managed services offerings, as well as professional services related to designing and building multicloud solutions and cloud-native applications. The Apps & Cross Platform segment includes managed applications, managed security and data services, as well as professional services related to designing and implementing application, security and data services. The company was founded on July 21, 2016 and is headquartered in San Antonio, TX.

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Earnings data Q4 2024

Rackspace Technology focuses on sustainable growth amidst challenges and opportunities

Rackspace Technology navigating challenges from a ransomware incident and a tough macro environment, focusing on sustainable growth and high-margin services.
Company making strategic moves with partnerships, new offerings, and leadership changes to drive transformation and execution of its strategy.
Despite demand slowdown in certain sectors, opportunities exist in healthcare and telco industries, with strong growth in hyperscalers and APJ region.

Rackspace Technology reports Q1 revenue decline, eyes long-term growth

Rackspace Technology faces short-term revenue challenges but maintains financial stability.
Strategic focus on cost efficiencies and revenue growth for improved performance.
Long-term growth opportunities in multicloud and generative AI adoption.
Confidence in sequential profit improvement and segment-specific growth targets.

Rackspace Technology surpasses Q2 expectations, drives innovation in AI

Rackspace Technology's Q2 2023 earnings call highlighted strong financial performance, strategic focus on generative AI, and successful collaborations in cloud services. While facing challenges in bookings growth and cost optimization, the company remains well-positioned for growth and innovation in the tech sector.

Rackspace Technology exceeds Q3 guidance, eyes growth in cloud services

Rackspace Technology's Q3 2023 performance showcased financial strength and strategic focus on sustainable growth.
While facing challenges in profitability, the company's strong traction in key markets and new offerings position it well for future opportunities.
With a disciplined financial strategy and focus on efficiency, Rackspace Technology is poised to capitalize on growth prospects in cloud services.

Rackspace Technology reports strong Q4 earnings, eyes cloud growth

Rackspace Technology's Q4 2023 performance reflects strong revenue and profit growth, driven by robust private cloud bookings and strategic focus on higher-margin services.
While facing challenges in cloud revenue declines, the company is poised for improvement in 2024 through private cloud revenue stabilization and public cloud growth.
Strategic strengths in operational turnaround, debt reduction, and AI partnerships position Rackspace well for future growth and innovation in the cloud services sector.

Rackspace Technology exceeds Q1 guidance, focuses on cloud and AI growth

Rackspace Technology's Q1 2024 earnings call highlighted strong financial performance, operational improvements, and growth opportunities in AI and cloud services. Despite short-term cash flow challenges, the company's strategic focus on cloud bookings and AI development positions it well for future growth.

Rackspace Technology surpasses Q3 expectations, eyes strategic growth opportunities

Rackspace Technology's Q3 2024 performance reflects consistent revenue growth, margin improvement, and operational success, driven by innovative solutions and strategic vertical focus.
While facing challenges in managing costs and a projected loss per share in Q4, the company's strengths in market relevance, partnerships, and liquidity offer a solid foundation for future growth.
Opportunities lie in further leveraging vertical expertise, expanding cloud offerings, and optimizing operational efficiency to drive sustained revenue growth and market leadership.
Overall, Rackspace's strong financial performance, coupled with strategic initiatives and market positioning, position the company well for continued success and value creation in the evolving tech landscape.

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Shares of Rackspace Technology Inc. RXT, +0.55% dropped 3.0% in premarket trading Friday, after the cloud services company was downgraded by Oppenheimer analyst Timothy Horan, who said increased macro headwinds and "very high debt" warrants caution. Horan cut his rating to perform, after being at outperform since January 2021, and removed his $18 stock price target.

Rackspace stock falls after Oppenheimer cuts rating, removes price target

SAN ANTONIO--(BUSINESS WIRE)--Rackspace Technology® (NASDAQ: RXT), a leading end-to-end, multicloud technology solutions company, today announced a strategic partnership with Cohesity, a leader in next-gen data management, to deliver multicloud managed backup and recovery solutions for Rackspace Technology customers globally. Under the partnership, Rackspace Technology will offer customers Rackspace Data Protection, a high-performance, software-defined Cohesity-Powered backup and recovery servi

Rackspace Technology and Cohesity Partner to Offer Comprehensive Data Protection to Boost Business Resiliency Against Ransomware

SAN ANTONIO, April 06, 2022 (GLOBE NEWSWIRE) -- Rackspace Technology ® (NASDAQ: RXT), a leading end-to-end, multicloud technology solutions company, today announced enhancements to its strategic partnership with Akamai Technologies, Inc. (NASDAQ: AKAM), the world's most trusted solution to power and protect digital experiences, to offer global businesses consultative services to help secure their applications and APIs.

Rackspace and Akamai Partner to Bring Enterprise Level Application Security to Small and Mid-Sized Businesses

The end-to-end multi-cloud solutions expert makes a difference as a Google Cloud Partner, demonstrating its capabilities and experience in delivering future-ready cloud solutions The end-to-end multi-cloud solutions expert makes a difference as a Google Cloud Partner, demonstrating its capabilities and experience in delivering future-ready cloud solutions

Rackspace Technology Renews Its Google Cloud Managed Services Provider (MSP) Designation for Latin America

SAN ANTONIO, March 30, 2022 (GLOBE NEWSWIRE) -- Rackspace Technology® (NASDAQ: RXT), a leading end-to-end, multicloud technology solutions company, today announced insurance solution provider Auto & General Southeast Asia (SEA) increased site speed by 60%, optimized application performance, and enhanced security of its cloud infrastructure by deploying Rackspace Managed Services on Cloudflare.

Auto & General Southeast Asia Increased Site Speed by 60% with Rackspace Technology and Cloudflare

SAN ANTONIO, March 24, 2022 (GLOBE NEWSWIRE) -- Rackspace Technology® (NASDAQ: RXT), a leading end-to-end, hybrid architecture technology solutions company and an Amazon Web Services (AWS) Premier Consulting Partner with 15 competencies and 2,700+ certifications, today announced the company has obtained its 13th service delivery designation. The Amazon QuickSight service validation is part of the Rackspace Technology Data, Analytics, and Machine Learning practice and adds to the dozen other designations already attained. Qualification for the program requires passing service-specific verification of customer references and a technical review on behalf of AWS, affording customers confidence that they are working with AWS Partners who can offer the most up-to-date and relevant cloud solutions.

Rackspace Technology Awarded Amazon QuickSight Service Delivery Designation for AWS

New research by Rackspace Technology finds changes in technology for education during the pandemic will become permanent, including an increase in the use of video, AI, data analytics, and chatbots but only 13% feel very well equipped to deal with this change New research by Rackspace Technology finds changes in technology for education during the pandemic will become permanent, including an increase in the use of video, AI, data analytics, and chatbots but only 13% feel very well equipped to deal with this change

Pandemic leads to lasting change in teaching methods across European countries Rackspace Technology research reveals

LONDON, March 17, 2022 (GLOBE NEWSWIRE) -- Rackspace Technology® (NASDAQ: RXT), a leading end-to-end multicloud solutions company, has today announced that it is supporting BMG, the fourth biggest global music company in the world, with its migration to Google Cloud.

BMG accelerates Google Cloud migration with Rackspace Technology to meet data demands of music consumption boom

SAN ANTONIO, March 14, 2022 (GLOBE NEWSWIRE) -- Rackspace Technology ® (NASDAQ: RXT), a leading end-to-end, multicloud technology solutions company, today announced the company will host a Fireside Chat on “The Digital Transformation Revolution” with Jeff DeVerter, Chief Technology Evangelist for Rackspace Technology at the Apex National CIO, CTO, AI, ML Digital Transformation Virtual Summit. The Fireside Chat will explore how digital transformation is changing the way organizations operate and the impact on systems, processes, workflow, and culture.

Apex National CIO, CTO, AI, ML Digital Transformation Virtual Summit Fireside Chat: “The Digital Transformation Revolution” Hosted by Rackspace Technology and Chief Technology Evangelist Jeff DeVerter

SAN ANTONIO, March 10, 2022 (GLOBE NEWSWIRE) -- Rackspace Technology ® (NASDAQ: RXT), a leading end-to-end, multicloud technology solutions company, today announced a revitalized Technical Career Track (TCT) program intended to provide technical team members a path into senior roles. The program amplifies the technical team member's voice as thought leaders, bridging across technologies and teams, to create one technical voice and advancement for top technical talent.

Rackspace Technology Launches Technical Career Track Program

$10,000 investment prevented a potential $250,000 issue and provides utilities and downstream industrial users easy access to data to help prevent equipment failures and more reliable delivery $10,000 investment prevented a potential $250,000 issue and provides utilities and downstream industrial users easy access to data to help prevent equipment failures and more reliable delivery

Rackspace Technology Works with Delta Thermal to Help Electric Utilities and Downstream Industrial Customers Protect and Grow the Power Grid with AWS

Partnership focuses on data services experience, skills, and ability to accelerate joint value for customers Partnership focuses on data services experience, skills, and ability to accelerate joint value for customers

Rackspace Technology Achieves Snowflake Premier Partnership Level

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Multiyear strategic collaboration agreement drives customer value and innovation, and strengthens AWS's position as Rackspace Technology's preferred cloud provider Multiyear strategic collaboration agreement drives customer value and innovation, and strengthens AWS's position as Rackspace Technology's preferred cloud provider

Rackspace Technology Expands Strategic Relationship with AWS

Rackspace (RXT) stock is heading lower on Wednesday following the release of its earnings report for the fourth quarter of 2021. The post RXT Stock News: Why Rackspace Shares Are Reeling Today appeared first on InvestorPlace.

RXT Stock News: Why Rackspace Shares Are Reeling Today

Rackspace Technology, Inc. (RXT) CEO Kevin Jones on Q4 2021 Results - Earnings Call Transcript

Rackspace (RXT) delivered earnings and revenue surprises of 4.17% and 0.79%, respectively, for the quarter ended December 2021. Do the numbers hold clues to what lies ahead for the stock?

Rackspace (RXT) Beats Q4 Earnings and Revenue Estimates

SAN ANTONIO, Feb. 22, 2022 (GLOBE NEWSWIRE) -- Rackspace Technology, Inc. (Nasdaq: RXT), a leading end-to-end multicloud technology solutions company, today announced results for its fourth quarter and year ended December 31, 2021.

Rackspace Technology Reports Fourth Quarter and Full Year 2021 Results; Record Quarterly New Sales Bookings of $329 Million

SAN ANTONIO, Feb. 16, 2022 (GLOBE NEWSWIRE) -- Rackspace Technology ® (NASDAQ: RXT), a leading end-to-end, multicloud technology solutions company, today announced an expanded strategic partnership with Cloudflare to offer expert services for Cloudflare Zero Trust, to help businesses reach their cloud-centric goals faster, support remote workers, and provide a Secure Access Service Edge (SASE) for their cloud applications, data, users, and devices. Rackspace Technology is offering managed services for Cloudflare Zero Trust through the Rackspace Elastic Engineering for Security portfolio which is available to customers globally.

Rackspace Technology Joins Forces with Cloudflare to Offer Zero Trust Cloud Security Services to Customers Globally

Rackspace (RXT) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

Earnings Preview: Rackspace (RXT) Q4 Earnings Expected to Decline

SAN ANTONIO, Feb. 10, 2022 (GLOBE NEWSWIRE) -- Rackspace Technology® (NASDAQ: RXT), a leading end-to-end, multicloud technology solutions company, today announced it has been named a Leader in three quadrants of the 2021 ISG Provider Lens™ AWS Ecosystem Partners Report for the US and Germany due to its numerous AWS competencies, partner programs and the extensive AWS certifications.

Rackspace Technology Positioned as a Leader in Three Categories of 2021 ISG Provider Lens™ AWS Ecosystem Partners Report for US and Germany

SAN ANTONIO, Feb. 08, 2022 (GLOBE NEWSWIRE) -- Rackspace Technology ® (NASDAQ: RXT), a leading end-to-end, multicloud technology solutions company, today announced its collaboration with VoltaGrid to deploy a secure, serverless cloud-native solution that leverages IoT, Machine Learning (ML) and Artificial Intelligence (AI) in AWS for its software-controlled and managed mobile electric microgrids.

Rackspace Technology Works with VoltaGrid to Generate Cost Savings with Cloud Native Solutions That Provide Optimization of Energy Generation and Consumption

Skills, Data Quality and Lack of Organizational Buy-In Cited as Barriers; AI/ML Top IT Priority for Businesses, Alongside Cybersecurity Skills, Data Quality and Lack of Organizational Buy-In Cited as Barriers; AI/ML Top IT Priority for Businesses, Alongside Cybersecurity

New Rackspace Technology Report Finds AI/ML Technologies Increasingly Mission-Critical, But Full Benefits Have Yet to Be Realized

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NEW YORK, Jan. 27, 2022 (GLOBE NEWSWIRE) -- Pipedrive , the global sales-first CRM and intelligent revenue management platform for small businesses, today announced the opening of a newly built Rackspace OpenStack private cloud environment in the UK, provided by Rackspace Technology ® (NASDAQ: RXT), a leading end-to-end, multicloud technology solutions company.

News for Rackspace Technology, Inc. Stock (RXT)