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Dec 31, 2020
Rackspace Q4 2020 Earnings Report
Rackspace Technology's Q4 2020 earnings were reported, showing revenue growth and strong earnings leverage.
Key Takeaways
Rackspace Technology reported a 14% year-over-year increase in fourth-quarter revenue, reaching $716 million, and a 27% increase in bookings. The company's non-GAAP EPS also increased by 24% year-over-year.
Fourth Quarter Revenue was $716 million, up 14% Year-over-Year.
Fourth Quarter Bookings were $293 million, an increase of 27% Year-over-Year.
Fourth Quarter Net loss was $(64) million, or $(0.32) per diluted share.
Fourth Quarter Non-GAAP Earnings Per Share was $0.26, up 24% Year-over-Year.
Rackspace
Rackspace
Forward Guidance
Rackspace Technology is establishing guidance for full year 2021.
Positive Outlook
- Revenue $2.9-$3.1 billion
- Core Revenue $2.7-$2.9 billion
- Non-GAAP Operating Profit $500-$530 million
- Non-GAAP Earnings Per Share $0.95-$1.05
Challenges Ahead
- Non-GAAP Other Income (Expense) ($226)-($233) million
- Non-GAAP Tax Expense Rate 26 %
- Non-GAAP Weighted Average Shares 210-214 million