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Rackspace Technology Q1 Earnings, Revenue Rise from Year Ago, Sets Guidance -- Stock Dives 12% After-Hours

05/10/2021 13:23

05:20 PM EDT, 05/10/2021 (MT Newswires) -- Rackspace Technology (RXT) on Monday posted an adjusted EPS of $0.23 in Q1, rising from $0.16 a year earlier, and beating analyst estimates of $0.21 in a Capital IQ survey.

Revenue grew 11% to $726 million from a year ago, also exceeding the $721.94 million estimate. Bookings were $244 million in Q1, up 6% from a year ago.

For Q2, the company expects revenue $735 million to $745 million and an adjusted EPS of $0.21 to $0.23, compared to the Street estimates of $0.23 for EPS on revenue of $733.89 million.

For the full year, it projects revenue of $2.9 billion to $3.1 billion and an adjusted EPS of $0.95 to $1.05, against market consensus of $1.01 for EPS on revenue of $3.02 billion.

Price: 20.82, Change: -3.20, Percent Change: -13.32