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) is a leading provider of end-to-end, hybrid, multi-cloud technology services. The company specializes in designing, building, and operating its customers' cloud environments across all major technology platforms, including OpenStack, Microsoft, and VMware. Rackspace offers a comprehensive suite of solutions categorized into Application Services, Data, Colocation, Cloud, Managed Hosting, Professional Services, and Security & Compliance. This diverse service portfolio enables businesses to leverage cloud computing without the complexity and cost of managing IT infrastructure and applications independently.
Serving over 300,000 customers globally, including two-thirds of the Fortune 100, Rackspace is renowned for its Fanatical Support®—a results-driven service that emphasizes customer success. The company's expertise is further validated by its recognition as a leader in the Gartner Magic Quadrant for Cloud-Enabled Managed Hosting and its repeated inclusion in Fortune’s list of best companies to work for.
Rackspace is constantly innovating, as evidenced by its partnership with Google Cloud to showcase generative AI services and solutions. Their Foundry for AI by Rackspace (FAIR) initiative is dedicated to advancing business transformation and improving customer experiences through responsible AI technologies. FAIR has identified over 500 AI use cases and is actively working on industry-leading implementations worldwide.
Recent advancements include the integration of a Generative AI-enabled intelligent system with Microsoft Azure OpenAI Service, significantly enhancing data retrieval and business insights capabilities. Additionally, Rackspace has collaborated with healthcare organizations like Seattle Children's to manage critical workloads, ensuring improved patient care and optimized operations.
Rackspace's commitment to innovation extends to ethical AI practices, as demonstrated by their partnership with OhioX to promote responsible AI adoption and drive economic growth in Ohio. The company’s broad expertise and strategic partnerships enable it to support a wide array of industries, helping them modernize applications and adopt cutting-edge technologies.
For more information, visit www.rackspace.com.
Rackspace Technology (NASDAQ: RXT) has been chosen by ADCO Umweltdienste Holding GmbH to lead its cloud transformation journey. The five-year partnership will migrate ADCO's on-premise data centers to Amazon Web Services (AWS) and leverage VMware services, starting in Germany and rolling out globally. ADCO, known for mobile sanitary solutions, aims to improve its IT strategy for enhanced resiliency and sustainability. This collaboration is expected to not only modernize ADCO's technology but also bolster its operational processes, ensuring future growth.
Rackspace Technology (NASDAQ: RXT) announced that CEO Kevin Jones and CFO Amar Maletira will present at the Deutsche Bank Media, Internet and Telecom Conference on March 9, 2021, at 1:00 PM ET. They will also be available for investor meetings. Interested parties can access the live webcast of the event via the conference website. Slide materials for the presentation will be available on the morning of the conference on their Investor Relations website.
Rackspace Technology specializes in multicloud technology services, helping customers modernize applications and adopt innovative technologies.
Rackspace Technology (NASDAQ: RXT) has successfully completed an AI and ML initiative for Sentrics, enhancing voice control features in their Engage360 application. This upgrade is designed to support mobility-impaired seniors in assisted living facilities, allowing them to communicate and manage activities hands-free. Leveraging Amazon Lex, Rackspace's team expedited the integration, meeting an urgent six-week timeline. This initiative aims to improve seniors' quality of life during the COVID-19 pandemic while fostering community engagement.
Rackspace Technology (NASDAQ: RXT) has been awarded Cloudflare’s Worldwide MSP Partner of the Year for 2020, recognizing its robust growth and consistent joint customer engagements. This accolade reflects Rackspace's excellence in providing managed services, playing a crucial role in helping businesses secure and enhance their online presence. The award highlights the importance of a reliable Internet, especially during the challenges posed by 2020, showcasing Rackspace's commitment to innovative solutions in partnership with Cloudflare across the Americas, APAC, and EMEA regions.
Rackspace Technology (RXT) reported fourth quarter 2020 revenue of $716 million, up 14% year-over-year, with bookings increasing 27% to $293 million. The full year revenue reached $2,707 million, an 11% increase, alongside a net loss of $(64) million in Q4, widening from $(47) million in Q4 2019. Adjusted EBITDA was $199 million in Q4, marking a 6% rise. RXT’s non-GAAP EPS for Q4 was $0.26, a 24% improvement. For 2021, guidance suggests revenue of $2.9-$3.1 billion.
Rackspace Technology (NASDAQ: RXT) has been named the CloudHealth by VMware Global Partner of the Year for 2020, showcasing its excellence among numerous global cloud solution providers. This accolade highlights Rackspace's technical expertise, innovation, and customer value. By integrating CloudHealth into its offerings across major cloud platforms like AWS, Google Cloud, and Microsoft, Rackspace aids clients in optimizing cloud spending and management. The company aims to lower infrastructure costs and enhance visibility for its customers, reinforcing its commitment to cloud management solutions.
Rackspace Technology (NASDAQ: RXT) has announced a successful collaboration with HiMed Solutions, implementing a cloud-based medical records system in Colombia. This system enhances decision-making for healthcare workers by providing quick and secure access to patient records while ensuring compliance. The migration to a VMware-based private cloud has improved uptime, response times, and reduced administrative tasks for healthcare providers. Rackspace's support has helped HiMed focus on improving patient care, supported by enhanced security measures for patient data.
Rackspace Technology (NASDAQ: RXT) has been designated as an Oracle Cloud Solutions Provider (CSP), recognizing its expertise in Oracle applications and technology. This certification allows Rackspace to resell Oracle’s Universal Credits for Cloud Infrastructure and migrate on-premise applications to Oracle Cloud Infrastructure (OCI). Boasting over 300 certified Oracle experts and 600+ completed projects, Rackspace aims to enhance customer experiences and accelerate their cloud adoption. This partnership solidifies Rackspace's role in providing flexible, scalable Oracle solutions in a cloud-first world.
Rackspace Technology (NASDAQ: RXT) announced its successful collaboration with Microcomputer Consulting Group (MCG) to enhance remote work security during the pandemic. The partnership focused on migrating MCG's clients to Microsoft 365, improving email security and access to collaboration tools. With nearly 2,000 email accounts, MCG faced significant phishing and ransomware threats. The transition was executed swiftly, with minimal downtime, meeting urgent remote work needs. This strategic move positions MCG for future success as they adopt new technologies in a changing work environment.
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