Rackspace: Q2 Earnings Snapshot

August 9, 2022 GMT

SAN ANTONIO (AP) _ Rackspace Technology, Inc. (RXT) on Tuesday reported a loss of $40.6 million in its second quarter.

On a per-share basis, the San Antonio-based company said it had a loss of 19 cents. Earnings, adjusted for one-time gains and costs, came to 17 cents per share.

The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 16 cents per share.

The company posted revenue of $772.2 million in the period, missing Street forecasts. Five analysts surveyed by Zacks expected $784.7 million.

For the current quarter ending in October, Rackspace expects its per-share earnings to range from 8 cents to 10 cents.

The company said it expects revenue in the range of $769 million to $779 million for the fiscal third quarter.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on RXT at https://www.zacks.com/ap/RXT