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Rackspace Technology Third Quarter 2024 Earnings: EPS Misses Expectations
Rackspace Technology (NASDAQ:RXT) Third Quarter 2024 Results
Key Financial Results
- Revenue: US$675.8m (down 7.7% from 3Q 2023).
- Net loss: US$186.6m (loss narrowed by 18% from 3Q 2023).
- US$0.82 loss per share (improved from US$1.05 loss in 3Q 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Rackspace Technology EPS Misses Expectations
Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 142%.
Looking ahead, revenue is forecast to stay flat during the next 3 years compared to a 9.6% growth forecast for the IT industry in the US.
Performance of the American IT industry.
The company's shares are up 16% from a week ago.
Risk Analysis
What about risks? Every company has them, and we've spotted 3 warning signs for Rackspace Technology (of which 1 is potentially serious!) you should know about.
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Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
M
The Foxhole
Berkshire sold Visa and Mastercard. Ackman just bought both. So whose "smart money" are you actually following?
137
m
marcus_l38oa
American Express is the bigger bet of Buffet than Mastercard and Visa. They are still holding it.
z
zoe_vi5fn
lol. what we should be discussing is Berkshire's cash pile. Close to 400 billion now.
Andrew LeggetMarket Insights
Great earnings season, but are the earnings real?
At first glance, this was the strongest earnings season in years. But when you look at where the growth actually came from, the story splits into two very different pictures.
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About NasdaqGS:RXT
Rackspace Technology
Operates as a hybrid cloud and artificial intelligence solutions company in the United States, the United Kingdom, and internationally.
Very undervalued with slight risk.
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