Rackspace Technology, Inc.

Rackspace Technology, Inc. engages in the provision of end-to-end multi-cloud technology services. The firm designs, builds and operates its customers’ cloud environments across technology platforms. It operates through the following segments: Multicloud Services and Apps & Cross Platform. The Multicloud Services segment includes public and private cloud managed services offerings, as well as professional services related to designing and building multicloud solutions and cloud-native applications. The Apps & Cross Platform segment includes managed applications, managed security and data services, as well as professional services related to designing and implementing application, security and data services. The company was founded on July 21, 2016 and is headquartered in San Antonio, TX.

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Rackspace Technology focuses on sustainable growth amidst challenges and opportunities

Rackspace Technology navigating challenges from a ransomware incident and a tough macro environment, focusing on sustainable growth and high-margin services.
Company making strategic moves with partnerships, new offerings, and leadership changes to drive transformation and execution of its strategy.
Despite demand slowdown in certain sectors, opportunities exist in healthcare and telco industries, with strong growth in hyperscalers and APJ region.

Rackspace Technology reports Q1 revenue decline, eyes long-term growth

Rackspace Technology faces short-term revenue challenges but maintains financial stability.
Strategic focus on cost efficiencies and revenue growth for improved performance.
Long-term growth opportunities in multicloud and generative AI adoption.
Confidence in sequential profit improvement and segment-specific growth targets.

Rackspace Technology surpasses Q2 expectations, drives innovation in AI

Rackspace Technology's Q2 2023 earnings call highlighted strong financial performance, strategic focus on generative AI, and successful collaborations in cloud services. While facing challenges in bookings growth and cost optimization, the company remains well-positioned for growth and innovation in the tech sector.

Rackspace Technology exceeds Q3 guidance, eyes growth in cloud services

Rackspace Technology's Q3 2023 performance showcased financial strength and strategic focus on sustainable growth.
While facing challenges in profitability, the company's strong traction in key markets and new offerings position it well for future opportunities.
With a disciplined financial strategy and focus on efficiency, Rackspace Technology is poised to capitalize on growth prospects in cloud services.

Rackspace Technology reports strong Q4 earnings, eyes cloud growth

Rackspace Technology's Q4 2023 performance reflects strong revenue and profit growth, driven by robust private cloud bookings and strategic focus on higher-margin services.
While facing challenges in cloud revenue declines, the company is poised for improvement in 2024 through private cloud revenue stabilization and public cloud growth.
Strategic strengths in operational turnaround, debt reduction, and AI partnerships position Rackspace well for future growth and innovation in the cloud services sector.

Rackspace Technology exceeds Q1 guidance, focuses on cloud and AI growth

Rackspace Technology's Q1 2024 earnings call highlighted strong financial performance, operational improvements, and growth opportunities in AI and cloud services. Despite short-term cash flow challenges, the company's strategic focus on cloud bookings and AI development positions it well for future growth.

Rackspace Technology surpasses Q3 expectations, eyes strategic growth opportunities

Rackspace Technology's Q3 2024 performance reflects consistent revenue growth, margin improvement, and operational success, driven by innovative solutions and strategic vertical focus.
While facing challenges in managing costs and a projected loss per share in Q4, the company's strengths in market relevance, partnerships, and liquidity offer a solid foundation for future growth.
Opportunities lie in further leveraging vertical expertise, expanding cloud offerings, and optimizing operational efficiency to drive sustained revenue growth and market leadership.
Overall, Rackspace's strong financial performance, coupled with strategic initiatives and market positioning, position the company well for continued success and value creation in the evolving tech landscape.

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SAN ANTONIO, Feb. 21, 2024 (GLOBE NEWSWIRE) -- Rackspace Technology ® (NASDAQ: RXT), a leading end-to-end, hybrid multicloud technology solutions company, today announced it has been positioned in the Major Players category in the IDC MarketScape: Canadian Managed Multicloud Services 2024 Vendor Assessment (Feb 2024-IDC MarketScape-Doc # CA50302123).

Rackspace Technology Named a Major Player in IDC MarketScape: Canadian Managed Multicloud Services 2024 Vendor Assessment

AI-powered companion streamlines tasks, boosts productivity, and unlocks new possibilities AI-powered companion streamlines tasks, boosts productivity, and unlocks new possibilities

Foundry for AI by Rackspace Launches a Two-step Flight Plan for Copilot for Microsoft 365

Gross brings over 25 years of business experience and executive leadership to Rackspace Gross brings over 25 years of business experience and executive leadership to Rackspace

Rackspace Technology Appoints Experienced and Seasoned Executive Mark Gross to Board of Directors

2023 progress includes reducing carbon footprint, advancing the company's sustainable technology partnerships, workforce empowerment, and impactful community contributions 2023 progress includes reducing carbon footprint, advancing the company's sustainable technology partnerships, workforce empowerment, and impactful community contributions

Rackspace Technology Releases Commitment to Sustainability Report

Groundbreaking service enhancements for artists and songwriters can track music 50% faster Groundbreaking service enhancements for artists and songwriters can track music 50% faster

Rackspace Technology and Google Cloud AI Enable BMG to Process Royalties Ten Times Faster than Before

AI Anywhere is a state-of-the-art offering enabling organizations to harness the power of Artificial Intelligence AI Anywhere is a state-of-the-art offering enabling organizations to harness the power of Artificial Intelligence

Rackspace Technology Introduces AI Anywhere, a Cutting-edge Private Cloud Solution Harnessing the Power of Artificial Intelligence and Machine Learning in a Secure Hosting Environment

SAN ANTONIO, Jan. 12, 2024 (GLOBE NEWSWIRE) -- Rackspace Technology® (NASDAQ: RXT), a leading end-to-end, hybrid multicloud technology solutions company, today announced the appointment of Mark Marino as Chief Financial Officer (CFO), effective immediately. Marino previously served as the Company's Chief Accounting Officer and succeeds Naushaza “Bobby” Molu. Molu resigned his position to pursue a new opportunity in the UK, where he resides. He will remain with Rackspace Technology in an advisory role through late February to ensure a seamless transition.

Rackspace Technology Promotes Mark Marino to Chief Financial Officer

If you are looking for stocks that have gained strong momentum recently but are still trading at reasonable prices, Rackspace (RXT) could be a great choice. It is one of the several stocks that passed through our 'Fast-Paced Momentum at a Bargain' screen.

Here Is Why Bargain Hunters Would Love Fast-paced Mover Rackspace (RXT)

Rackspace (RXT) has been upgraded to a Zacks Rank #2 (Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.

All You Need to Know About Rackspace (RXT) Rating Upgrade to Buy

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The enterprise-grade solution and SAP-certified pre-configuration based on Dell VxRail is a turnkey experience ready to power innovation The enterprise-grade solution and SAP-certified pre-configuration based on Dell VxRail is a turnkey experience ready to power innovation

Rackspace Technology Launches SDDC Enterprise and Business for SAP with VMware Virtualized Compute, Storage, Networking and Cloud Management

Businesses continue to grapple with IT recruitment and training challenges as they seek to keep up with accelerating technology advancements Businesses continue to grapple with IT recruitment and training challenges as they seek to keep up with accelerating technology advancements

Artificial Intelligence (AI) and Cloud Transformation Dominate IT Investment Priorities for 2024, According to the New Rackspace Technology Survey, in Association with VMware

Rackspace Technology and Microsoft cutting-edge Generative AI Services and Solutions using the FAIR Practice will be on display

Rackspace Technology Participates in Microsoft Ignite to Showcase the Company's Microsoft Offerings and Partnerships

CRN's seventh annual IoT Innovators Awards honors solution providers that are driving IoT innovation forward CRN's seventh annual IoT Innovators Awards honors solution providers that are driving IoT innovation forward

Rackspace Technology Named CRN 2023 IoT Innovator Award Winner for Fueling the Real-World Data Revolution

Rackspace Technology, Inc. (NYSE:RAX ) Q2 2023 Earnings Conference Call November 7, 2023 12:00 PM ET Company Participants Sagar Hebbar - Head, IR Amar Maletira - CEO Bobby Molu - CFO Conference Call Participants Ramsey El-Assal - Barclays Frank Louthan - Raymond James Bradley Clark - BMO Matthew Roswell - RBC Operator Good day, and thank you for standing by. Welcome to the Rackspace Technology Third Quarter 2023 Earnings Webcast.

Rackspace Technology, Inc. (RAX) Q3 2023 Earnings Call Transcript

Rackspace Technology, Inc. (NASDAQ:RXT ) Q3 2023 Earnings Conference Call November 7, 2023 5:00 PM ET Company Participants Sagar Hebbar - Head-Investor Relations Amar Maletira - Chief Executive Officer Bobby Molu - Chief Financial Officer Conference Call Participants Ramsey El-Assal - Barclays Frank Louthan - Raymond James Bradley Clark - BMO Matthew Roswell - RBC Operator Good day and thank you for standing by. Welcome to Rackspace Technology Third Quarter 2023 Earnings Webcast.

Rackspace Technology, Inc. (RXT) Q3 2023 Earnings Call Transcript

SAN ANTONIO, Nov. 07, 2023 (GLOBE NEWSWIRE) -- Rackspace Technology, Inc. (Nasdaq: RXT), a leading end-to-end, hybrid multicloud technology solutions company, today announced results for its third quarter ended September 30, 2023.

Rackspace Technology Reports Third Quarter 2023 Results

Comprehensive service powered by Rackspace Cloud Management Platform designed to empower customers by fully outsourcing the management and operations of their cloud environments Comprehensive service powered by Rackspace Cloud Management Platform designed to empower customers by fully outsourcing the management and operations of their cloud environments

Rackspace Technology Launches Rackspace Managed Cloud, Revolutionizing Multi and Hybrid Cloud Management

SAN ANTONIO, Oct. 23, 2023 (GLOBE NEWSWIRE) -- Rackspace Technology ® (NASDAQ: RXT) — a leading end-to end, hybrid multicloud technology solutions company, today announced that it will release its third quarter 2023 financial results after the market closes on Tuesday, November 7, 2023. Amar Maletira, Chief Executive Officer, and Bobby Molu, Chief Financial Officer, will host a conference call on the day of the release (November 7, 2023) at 5:00 PM ET to discuss the Company's financial results.

Rackspace Technology to Announce Third Quarter 2023 Earnings on Tuesday, November 7, 2023

Development of the APJ's first AI Data Protection Officer Assistant with Rackspace Technology's secure multicloud solutions and integration with Microsoft Azure OpenAI Service Development of the APJ's first AI Data Protection Officer Assistant with Rackspace Technology's secure multicloud solutions and integration with Microsoft Azure OpenAI Service

Foundry for AI by Rackspace Partners with Straits Interactive to Launch AI Data Protection Officer on Microsoft Azure OpenAI Service

Cole brings over 37 years of Wall Street experience and wealth of executive leadership to Rackspace Cole brings over 37 years of Wall Street experience and wealth of executive leadership to Rackspace

Rackspace Technology Appoints Leading Investment Banking Executive Thomas Cole to Board of Directors

AI seen as both potential vector for cyberattacks and enabler of resiliency; Organizations prioritize investment in cloud-native security but lack internal expertise AI seen as both potential vector for cyberattacks and enabler of resiliency; Organizations prioritize investment in cloud-native security but lack internal expertise

Artificial Intelligence (AI) Initiatives Driving Increased Focus on Cybersecurity, According to New Rackspace Technology Survey, in Association with Microsoft

Rackspace Technology, Inc. operates in a promising market with a large and growing multi-cloud TAM. The company's Public Cloud business is currently facing a decline, which raises concerns about its performance in this specific sector. The stock trades at a discount to leading IT services peers, which I believe is warranted in the near term.

Rackspace Technology: Attractive TAM But Challenges Persist In The Near Term

Strengthening customers' ability to stay ahead of evolving cyber threats Strengthening customers' ability to stay ahead of evolving cyber threats

Rackspace Technology Taps Palo Alto Networks for Comprehensive Cybersecurity Solutions

Game-changing AI/ML solution to easily leverage available data sources to create new insights, increase productivity, and enable better customer outcomes Game-changing AI/ML solution to easily leverage available data sources to create new insights, increase productivity, and enable better customer outcomes

News for Rackspace Technology, Inc. Stock (RXT)