Rackspace Technology Third Quarter 2024 Earnings: EPS Misses Expectations

Simply Wall St

November 14, 2024

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).

earnings-and-revenue-growth — NasdaqGS:RXT Earnings and Revenue Growth November 14th 2024

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.

The New Payments ETF Is Live on NASDAQ:

Money is moving to real-time rails, and a newly listed ETF now gives investors direct exposure. Fast settlement. Institutional custody. Simple access.

Explore how this launch could reshape portfolios

New: AI Stock Screener & Alerts

Our new AI Stock Screener scans the market every day to uncover opportunities.

• Dividend Powerhouses (3%+ Yield)
• Undervalued Small Caps with Insider Buying
• High growth Tech and AI Companies

Or build your own from over 50 metrics.

Explore Now for Free

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.