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Jun 30, 2022
Rackspace Q2 2022 Earnings Report
Rackspace Technology reported solid growth and profitability with robust cash flow.
Key Takeaways
Rackspace Technology reported Q2 2022 results with revenue of $772 million, a 4% increase year-over-year. Core revenue grew 5% to $733 million. The company reported a net loss of $(41) million, or $(0.19) per diluted share, and non-GAAP EPS of $0.17.
Revenue of $772 million in the Second Quarter, up 4% Year-over-Year.
Core Revenue Grew 5% to $733 million.
Quarterly Cash Flow From Operating Activities of $84 million.
Non-GAAP Earnings Per Share was $0.17 in the second quarter of 2022, a decrease of 29% as compared to Non-GAAP Earnings Per Share of $0.24 in the second quarter of 2021.
Rackspace
Rackspace
Forward Guidance
Rackspace Technology is providing the following guidance for Q3 2022: Revenue between $769 - $779 million, Core Revenue between $733 - $741 million, Non-GAAP Operating Profit between $73 - $77 million, and Non-GAAP Earnings Per Share between $0.08 - $0.10.