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Jun 30, 2020
Rackspace Q2 2020 Earnings Report
Reported second quarter results with revenue up 9% year-over-year and record quarterly bookings, but experienced a net loss.
Key Takeaways
Rackspace Technology reported a 9% increase in revenue year-over-year, reaching $657 million for the second quarter of 2020. The company also achieved record quarterly bookings of $288 million, a 107% increase year-over-year. However, they reported a net loss of $33 million, or ($0.20) per diluted share.
Revenue increased by 9% year-over-year to $657 million.
Record quarterly bookings increased by 107% year-over-year to $288 million.
Net loss was $33 million, or ($0.20) per diluted share.
Adjusted EBITDA was $188 million with a 29% margin.
Rackspace
Rackspace
Forward Guidance
Rackspace Technology provided full-year 2020 financial outlook, including consolidated revenue growth in constant currency between 9.0% and 10.0%, core revenue growth in constant currency between 12.5% and 13.5%, adjusted EBITDA between $756 million and $760 million, and adjusted earnings per share between $0.75 and $0.81.
Positive Outlook
- Consolidated revenue growth, Year-over-Year in constant currency between 9.0% - 10.0%
- Core Revenue growth, Year-over-Year in constant currency between 12.5% - 13.5%
- Adjusted EBITDA between $756 million - $760 million
- Adjusted Earnings Per Share between $0.75 - $0.81