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Rackspace Tech (NASDAQ: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.
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.
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).
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: RXT
