Rackspace Tech (NASDAQ:RXT) reported its Q1 earnings results on Tuesday, May 10, 2022 at 04:00 PM.
Here's what investors need to know about the announcement.
Earnings
Rackspace Tech beat estimated earnings by 4.76%, reporting an EPS of $0.22 versus an estimate of $0.21.
Revenue was up $49.60 million from the same period last year.
Past Earnings Performance
Last quarter the company beat on EPS by $0.01 which was followed by a 12.81% drop in the share price the next day.
Here's a look at Rackspace Tech's past performance:
| Quarter | Q4 2021 | Q3 2021 | Q2 2021 | Q1 2021 |
|---|---|---|---|---|
| EPS Estimate | 0.24 | 0.24 | 0.22 | 0.21 |
| EPS Actual | 0.25 | 0.25 | 0.24 | 0.23 |
| Revenue Estimate | 771.22M | 756.00M | 740.66M | 724.08M |
| Revenue Actual | 777.30M | 762.50M | 743.80M | 725.90M |
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).
Guidance
Rackspace Tech management provided guidance for Q2 2022, expecting earnings between $0.15 and $0.17 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.
