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Sep 30, 2020
Rackspace Q3 2020 Earnings Report
Reported strong execution and performance, capitalizing on the multicloud market opportunity.
Key Takeaways
Rackspace Technology reported a revenue of $682 million, a 13% increase year-over-year. The company's adjusted EPS was $0.19, a 36% increase year-over-year. However, the company experienced a net loss of $101 million, or $(0.54) per diluted share.
Third Quarter Revenue of $682 million, up 13% Year-over-Year
Record Quarterly Bookings of $315 million, an increase of 64% Year-over-Year
Net loss of $101 million, or $(0.54) per diluted share
Adjusted Earnings Per Share of $0.19, up 36% Year-over-Year
Rackspace
Rackspace
Forward Guidance
Rackspace Technology is increasing guidance for full year 2020.
Positive Outlook
- Consolidated revenue growth, Year-over-Year in constant currency: 10.0% - 11.0%
- Core Revenue growth, Year-over-Year in constant currency: 14.0% - 15.0%
- Adjusted EBITDA: $758 million - $762 million
- Adjusted Earnings Per Share: $0.79 - $0.81