Welcome to our dedicated page for Rackspace Technology news (Ticker: $RXT), a resource for investors and traders seeking the latest updates and insights on Rackspace Technology stock.
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Rackspace Technology reported first quarter 2024 results with revenue of $691 million, down 9% year-over-year. Private Cloud revenue was $268 million, down 15% year-over-year, while Public Cloud revenue was $422 million, down 5% year-over-year. The company achieved results above the high-end of guidance for revenue, operating profit, and EPS. However, there was a loss from operations of $(653) million, with non-GAAP Operating Profit decreasing by 68% to $16 million. The company aims to position itself for consistent revenue and profit growth in 2024.