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Rackspace reports softer Q1 guidance after Q4 results beat

Investing.com -- Rackspace reported Tuesday weaker-than-expected for the current quarter, but fourth-quarter results topped Wall Street estimates amid a year of transition for the cloud computing services provider. 

Rackspace Technology Inc (NASDAQ:RXT) was up 1% in afterhours trading following the report.

For fiscal Q1, the company expects an adjusted loss in a range of $0.12 to $0.14 per diluted share on revenue of $680 million to $690 million, missing estimates for an adjusted loss of $0.04 per share on revenue of $709.8M. 

The underwhelming guidance offset Q4 results that topped Wall Street estimates. 

For the three months ended Dec. 31, the company reported an adjusted loss of $0.03 on revenue of $720M, above Wall Street estimates for a loss of $0.04 on revenue of $715.6M. 

 

 

 

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71.4% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.