Rackspace Technology Full Year 2023 Earnings: EPS Beats Expectations
Rackspace Technology (NASDAQ:RXT) Full Year 2023 Results
Key Financial Results
Revenue: US$2.96b (down 5.3% from FY 2022).
Net loss: US$837.8m (loss widened by 4.1% from FY 2022).
US$3.89 loss per share (further deteriorated from US$3.81 loss in FY 2022).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Rackspace Technology EPS Beats Expectations
Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 10.0%.
Looking ahead, revenue is forecast to stay flat during the next 3 years compared to a 9.0% growth forecast for the IT industry in the US.
Performance of the American IT industry.
The company's shares are down 3.0% from a week ago.
Risk Analysis
It's necessary to consider the ever-present spectre of investment risk. We've identified 4 warning signs with Rackspace Technology (at least 1 which makes us a bit uncomfortable), and understanding them should be part of your investment process.
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.
