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.
Rackspace Technology, Inc. (RXT) delivers cutting-edge managed cloud and IT solutions, empowering businesses to navigate complex digital transformations. This page provides real-time access to official announcements and strategic developments from the company.
Investors and industry professionals will find curated updates on RXT's operational milestones, including cloud infrastructure innovations, strategic partnerships, and financial performance. Track announcements about AI-driven service expansions, security enhancements, and open-source initiatives that shape the company's market leadership.
Content spans earnings disclosures, technology deployments, executive insights, and customer success stories. All materials are sourced directly from RXT to ensure accuracy and timeliness.
Bookmark this page for streamlined monitoring of Rackspace Technology's evolving role in hybrid cloud ecosystem optimization and enterprise IT modernization.
Great Hill Partners has appointed Suaad Sait as a Growth Partner, enhancing its investment team with his extensive experience in software and cloud technology. Mr. Sait has a history of driving significant growth, having generated over
Rackspace Technology (NASDAQ: RXT) has partnered with Singapore-based Flextech to enhance its digital loyalty app, Flex Rewards. This app leverages advanced QR code and GPS technology for brick-and-mortar businesses and features an integrated marketplace for rewards. Flextech’s migration to Google Cloud Platform (GCP) was supported by Rackspace's expertise in Kubernetes and its Elastic Engineering model, enabling Flextech to focus on app development and user experience. As Flex Rewards expands, the tailored support from Rackspace will help optimize GCP features and managed services.
Rackspace Technology (RXT) announced that its Chief Product Officer, Josh Prewitt, will engage in a fireside chat with McGraw Hill Education's CTO, Andrew Lippert, at the Apex National Cloud & Cloud Security Transformation Virtual Summit on December 16, 2021. The event aims to address critical technology challenges facing CIOs from Fortune 500 and Global 2000 companies as they navigate cloud and security transformations. The collaboration features prominent industry leaders, including sponsors BitSight, Red Hat, and Intel.
Rackspace Technology (NASDAQ: RXT) announced significant advancements in its partnership with Amazon Web Services (AWS) through various customer transformations and new designations. The company achieved 15 AWS Partner competency designations and over 2,700 AWS Certifications. A highlighted success story includes Awaze, which reduced web session costs by 30% after migrating to AWS. Rackspace also received Amazon Quicksight Service Delivery designation and AWS Shield Advanced certification, bolstering its cloud security offerings. Additionally, Rackspace will participate in AWS re:Invent 2021 as a Gold Sponsor.
Rackspace Technology (NASDAQ: RXT) has been honored as the 2021 AWS Migration Partner of the Year (NSI) – US. This recognition highlights the company’s extensive expertise in assisting customers with their digital transformations and cloud migrations. With 15 AWS competencies and over 2,700 certifications, Rackspace plays a crucial role in the AWS Migration Acceleration Program, driving significant projects in the US. The company has previously received similar accolades for its services in Canada and the UK, reinforcing its reputation as a leader in multicloud technology solutions.
Rackspace Technology (NASDAQ: RXT) was awarded the 2020 Google Cloud Breakthrough North America Partner of the Year for successful IT migrations to Google Cloud. The company assisted clients like GoHenry, which doubled its customer base to one million after migrating 99% of its services, and Mrs. T’s Pierogies, which achieved a 60% acceleration in transactions. Additionally, Eagle Eye AIR's migration led to a 30% improvement in transaction speed. Rackspace highlights its commitment to driving innovative solutions and growth for its customers through strategic partnerships with Google Cloud.
Rackspace Technology (NASDAQ: RXT) has launched Rackspace Elastic Engineering for VMware, a new service designed to support cloud transformation. This offering aims to enhance orchestration, automation, and tooling for VMware multi-cloud computing. It helps organizations overcome challenges like the IT skills gap and limited partner support. Customers can benefit from flexible operational costs, on-demand expert access, and a dedicated team tailored to their needs. This initiative is part of Rackspace's broader Elastic Engineering solutions portfolio.
Rackspace Technology (RXT) reported record revenue of $763 million for Q3 2021, marking a 12% increase year-over-year. Core revenue grew 15% to $718 million. The company experienced a net loss of $(35) million, or $(0.17) per diluted share, an improvement from last year's net loss of $(101) million. Non-GAAP EPS rose 32% to $0.25. Operating cash flow reached $102 million. Despite a 36% decline in bookings to $200 million, Rackspace anticipates achieving its $1 billion bookings target for fiscal 2021. Financial guidance for Q4 indicates revenue between $766 million and $776 million.
