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Mar 31, 2022
Rackspace Q1 2022 Earnings Report
Reported solid revenue growth and profitability with strong cash flow from operations.
Key Takeaways
Rackspace Technology reported a 7% year-over-year increase in revenue, reaching $776 million. Core revenue grew by 9% to $735 million. The company is evaluating strategic alternatives to enhance shareholder value.
Revenue increased by 7% year-over-year to $776 million.
Core Revenue grew 9% to $735 million.
First quarter saw cash flow from operating activities of $65 million.
Company is evaluating strategic alternatives.
Forward Guidance
Rackspace Technology provided guidance for Q2 2022, including revenue between $780 - $790 million, core revenue between $744 - $752 million, Non-GAAP operating profit between $93 - $97 million, and Non-GAAP earnings per share between $0.15 - $0.17.
Positive Outlook
- Revenue $780 - $790 million
- Core Revenue $744 - $752 million
- Non-GAAP Operating Profit $93 - $97 million
- Non-GAAP Earnings Per Share $0.15 - $0.17
- Non-GAAP Weighted Average Shares 213 – 215 million
Challenges Ahead
- Non-GAAP Other Income (Expense) ($49) – ($51) million
- Non-GAAP Tax Expense Rate 26 %
Historical Earnings Impact
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Avg. Return Before/After Earnings
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