NASDAQ$RXT
Rackspace Technology Inc · Q4 2023 earnings
Q4 2023 earnings · · Investor relations
Briefing
Announced results exceeding guidance with revenue of $720 million and strategic debt refinancing.
Rackspace Technology reported a Q4 2023 revenue of $720 million, a 9% decrease year-over-year. The company's performance exceeded revenue, operating profit, and EPS guidance. Rackspace successfully refinanced its debt, reducing net financial debt by over $900 million and securing $575 million in new capital.
- Q4 revenue was $720 million, down 9% year-over-year.
- Private Cloud revenue was $285 million, down 14% year-over-year.
- Public Cloud revenue was $435 million, down 5% year-over-year.
- Net income was $28 million, compared to a net loss of $(214) million in Q4 2022.
Headline financials
Revenue & EPS history
Rackspace · Revenue · Quarterly
$720M
Forward guidance
Rackspace Technology is providing the following guidance for Q1 2024: revenue between $680 - $690 million, private cloud revenue between $268 - $273 million, public cloud revenue between $412 - $417 million, non-GAAP operating profit between $12 - $14 million and non-GAAP loss per share between ($0.12) - ($0.14).
Tailwinds
- Revenue between $680 - $690 million.
- Private Cloud Revenue between $268 - $273 million.
- Public Cloud Revenue between $412 - $417 million.
- Non-GAAP Operating Profit between $12 - $14 million.
- Non-GAAP Loss Per Share between ($0.12) - ($0.14).
Headwinds
- Non-GAAP Other Income (Expense) ($50) – ($52) million
- Non-GAAP Tax Expense Rate 26 %
- Non-GAAP Weighted Average Shares 221 – 223 million
- Uncertainty regarding share-based compensation expense.
- Potential variability of certain items impacting GAAP net income (loss).
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q4 2023
+2.3%
Avg return
Earnings day
+1.8%
Avg return
5 days after
-6.8%
Avg return
30 days after
48%
12 / 25 earnings
Positive
+67.4%
Q4 2025
Best reaction
-20.6%
Q4 2021
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +55.5% | +63.2% | +33.1% | |
| Q4 2025 | +67.4% | +82.2% | -22.2% | |
| Q3 2025 | -15.3% | -18.5% | -30.1% | |
| Q1 2025 | -13.4% | -11.1% | -18.1% | |
| Q4 2024 | +0.7% | -9.0% | -35.1% | |
| Q3 2024 | +8.6% | -13.3% | -10.4% | |
| Q2 2024 | +6.1% | +13.2% | -0.5% | |
| Q1 2024 | +5.9% | +11.3% | +17.7% | |
| Q4 2023 | -14.8% | +14.9% | +13.0% | |
| Q3 2023 | -1.8% | -10.0% | +7.9% | |
| Q2 2023 | +13.6% | +6.6% | +0.9% | |
| Q1 2023 | -14.0% | -18.7% | +16.2% | |
| Q4 2022 | -2.6% | -14.2% | -35.8% | |
| Q3 2022 | +22.1% | +17.5% | -33.4% | |
| Q2 2022 | -17.6% | -18.2% | -29.7% | |
| Q1 2022 | -10.9% | +4.0% | -13.3% | |
| Q4 2021 | -20.6% | -6.5% | -7.3% | |
| Q3 2021 | +12.5% | +3.4% | -9.4% | |
| Q2 2021 | -14.5% | -17.0% | -12.7% | |
| Q1 2021 | -19.9% | -18.0% | -10.8% | |
| Q4 2020 | -14.8% | -14.0% | -1.8% | |
| Q3 2020 | -1.7% | -7.2% | +13.1% | |
| Q4 2019 | +8.6% | +1.4% | -0.2% | |
| Q2 2019 | +8.6% | +1.4% | -0.2% | |
| Q2 2020 | +8.6% | +1.4% | -0.2% | |
| Q1 2020 | — | — | — | |
| Q3 2019 | — | — | — | |
| Q1 2019 | — | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro