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, Sept. 05, 2023 (GLOBE NEWSWIRE) -- Rackspace Technology® (NASDAQ: RXT) — a leading end-to-end, multicloud solutions company, today announced being named the winner of the Inspiring Workplaces™ award in the EMEA, North America, and Australasia regions which are all three of the program's award regions.

Rackspace Technology is Named Inspiring Workplaces Winner in EMEA, North America, and Australasia – All Three of the Program's Award Regions

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The free AI solution distills key AI best practices gleaned from hundreds of customer use cases and collective technology experience

Rackspace Technology Launches FAIR AI Diagnostic, Allowing Organizations to Baseline AI Readiness and Receive Tailored Recommendations on Next Steps in Minutes

Rackspace Technology and Google Cloud's cutting-edge Generative AI Services and Solutions using the FAIR Practice will be on display Rackspace Technology and Google Cloud's cutting-edge Generative AI Services and Solutions using the FAIR Practice will be on display

Rackspace Technology Participates in Google Cloud Next to Showcase the Company's Google Cloud Offerings and Partnerships

Ongoing collaboration between Rackspace and Google Cloud reinforces partner strategy Ongoing collaboration between Rackspace and Google Cloud reinforces partner strategy

Rackspace Technology Announces New Professional Services Collaboration with Google Cloud to Accelerate VM Migrations

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For over 15 years, Rackspace Technology and VMware have worked together to empower the future of the cloud For over 15 years, Rackspace Technology and VMware have worked together to empower the future of the cloud

Rackspace Technology Participates in VMware Explore to Showcase the Company's Private Cloud Portfolio

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Cloud computing undergirds, in one way or another, everyone's digital life. Whether you are accessing a piece of content on a video streaming platform or uploading documents for work, you are interacting with a network of cloud servers.

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Ranking comes as the multicloud leader partners with Google Cloud to offer Cutting-edge Generative AI Services and Solutions using the FAIR practice Ranking comes as the multicloud leader partners with Google Cloud to offer Cutting-edge Generative AI Services and Solutions using the FAIR practice

Rackspace Technology Ranked as a Leader in Two ISG Provider Lens™ Google Cloud Partner Ecosystem U.S. Reports for Second Year in a Row

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Rackspace Technology, Inc. (NASDAQ:RXT ) Q2 2023 Earnings Conference Call August 8, 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 Kevin McVey – Credit Suisse Bradley Clark – BMO Frank Louthan – Raymond James Operator Good day and thank you for standing by. Welcome to Rackspace Second Fiscal Quarter 2023 Earnings Call.

Rackspace Technology, Inc. (RXT) Q2 2023 Earnings Call Transcript

SAN ANTONIO, Aug. 08, 2023 (GLOBE NEWSWIRE) -- Rackspace Technology, Inc. (Nasdaq: RXT), a leading end-to-end multicloud technology solutions company, today announced results for its second quarter ended June 30, 2023.

Rackspace Technology Reports Second Quarter 2023 Results

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FAIR makes it easy for enterprises to build and deploy trustworthy generative AI FAIR makes it easy for enterprises to build and deploy trustworthy generative AI

Rackspace Launches Hosted Private Cloud Generative AI Solution Architecture, Powered by Dell Technologies and NVIDIA AI

FAIR powered by Aible leverages the power of generative AI to provide deep insights through a proprietary conversational interface FAIR powered by Aible leverages the power of generative AI to provide deep insights through a proprietary conversational interface

Rackspace Technology Partners with Aible to Further the Adoption of Generative AI Solutions and Enable Enterprise-scale Data Analysis and Data Storytelling

SAN ANTONIO, July 24, 2023 (GLOBE NEWSWIRE) -- Rackspace Technology ®  (NASDAQ: RXT)— a leading end-to end, multicloud technology solutions company, today announced that it will release its second quarter 2023 financial results after the market closes on Tuesday, August 8, 2023. Amar Maletira, Chief Executive Officer, and Bobby Molu, Chief Financial Officer, will host a conference call on the day of the release (August 8, 2023) at 5:00 PM ET to discuss the Company's financial results.

Rackspace Technology to Announce Second Quarter 2023 Earnings on Tuesday, August 8, 2023

Cloud technology company taking bold steps to educate employees on the principles of AI, use cases to harness the power creatively, responsibly, and sustainably for meaningful customer outcomes and AI operations integration

UPDATE – Rackspace Technology Announces FAIR Learn, an Innovative AI Literacy Program as Part of the Overall Foundry for Generative AI by Rackspace

Rackspace Technology Announces FAIR Learn, an Innovate AI Literacy Program as Part of the Overall Foundry for Generative AI by Rackspace

Rackspace Technology, Inc. provides organizations with an array of Public and Private Cloud services. The firm will likely produce top line revenue contraction in 2023, but management says Q2's operating results will be the "trough" before a better second half of 2023. Leadership will need to prove its restructuring and ability to grow revenue and eliminate operating losses.

Rackspace Restructures To Counteract Revenue Decline And Operating Losses

A strategic shift toward artificial intelligence (AI) gave the cloud computing firm's shares a serious boost in June 2023. Rackspace's AI moves include a new AI unit and a partnership with Google Cloud.

Why Rackspace Technology Stock Soared 74% Last Month

Rackspace Technology helps organizations of all sizes plan, architect, and operate projects at scale by leveraging its Google Cloud-certified experts and the latest technologies Rackspace Technology helps organizations of all sizes plan, architect, and operate projects at scale by leveraging its Google Cloud-certified experts and the latest technologies

Rackspace Technology Partners with C2C Global, the Largest Online Google Cloud Customer Community

Foundry for Generative AI by Rackspace and the global Generative AI Google Cloud Center of Excellence combine to help enterprises realize the full potential of AI Foundry for Generative AI by Rackspace and the global Generative AI Google Cloud Center of Excellence combine to help enterprises realize the full potential of AI

Rackspace Technology Partners with Google Cloud to offer Cutting-edge Generative AI Services and Solutions using the FAIR Practice

Appointment comes as leading multicloud solutions provider announces Generative AI offerings aimed at accelerating the responsible adoption of AI in organizations of all sizes Appointment comes as leading multicloud solutions provider announces Generative AI offerings aimed at accelerating the responsible adoption of AI in organizations of all sizes

Rackspace Technology Appoints Visionary Technology Executive Srini Koushik as Global Head of New Spin-up - Foundry for Generative AI by Rackspace

Organizations are lagging in modernizing legacy apps and data; the study also finds that modernization initiatives lack clear leadership Organizations are lagging in modernizing legacy apps and data; the study also finds that modernization initiatives lack clear leadership

Failure to Modernize Key Apps and Data Limits Organizations' Ability to Benefit from Cutting-Edge AI Technologies According to New Rackspace Technology Survey

News for Rackspace Technology, Inc. Stock (RXT)