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. reports developments tied to its hybrid cloud, multicloud, and enterprise AI solutions business. Company updates commonly cover Private Cloud and Public Cloud performance, managed services, professional services, security and compliance offerings, and customer cloud environments across major platforms including AWS, Microsoft Azure, and Google Cloud.
Rackspace news also includes partnerships and product initiatives for governed enterprise AI infrastructure, sovereign cloud services, cyber recovery, data migration, and managed operations for regulated or mission-critical workloads. Recurring corporate updates include quarterly results, earnings-call schedules, leadership appointments, and changes within the company's cloud business units.
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Rackspace Technology (NASDAQ: RXT) announced its partnership with Grupo Milenio to migrate to a more reliable AWS Cloud architecture. This digital transformation aims to enhance the delivery of breaking news across Mexico during high-traffic periods.
The upgrade has reportedly increased uptime, allowing for dependable content delivery. Grupo Milenio, comprising various media platforms, sought this migration for improved performance without raising operational costs.
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Rackspace Technology (NASDAQ: RXT) announced a strategic partnership with VMware to deploy its Secure Access Service Edge (SASE) platform in 20 global markets. The deployment will utilize Rackspace's Data Center in a Box solution, starting with 15 data centers and expanding to five additional sites across North America, South America, Europe, Asia Pacific, the Middle East, and Africa. This collaboration aims to enhance cloud security and streamline services for businesses.
Rackspace Technology (NASDAQ: RXT) announced a successful migration of Rancho Valencia's email server to Microsoft 365, enhancing customer service and optimizing infrastructure. The upgrade improved performance by 30%, leading to a faster, more secure email experience. Rancho Valencia, a Forbes Travel Guide Five-Star resort, boosts its guest engagement and revenue potential through technology application at customer touchpoints. The collaboration with Rackspace not only saved costs but also increased stability and compliance in its operations.
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Rackspace Technology (NASDAQ: RXT) announced enhancements to the QX Partner Portal, designed to help game developers and publishers manage rewards for gamers. This strategic collaboration with Onica includes building a streaming data processing system and a robust CI/CD pipeline. The QX platform tracks digital asset rewards that gamers can redeem for cash, increasing revenue for publishers while improving gameplay experiences. This initiative is a significant step for QX as it aims to raise additional funding and launch its product effectively.
Rackspace Technology (NASDAQ: RXT) announced the launch of Rackspace Elastic Engineering for Government aimed at enhancing cloud capabilities for government entities. The service aligns with the National Institute of Standards and Technology's essential cloud characteristics, providing access to specialized teams and rapid resource scalability. This offering allows government organizations to quickly address their cloud needs without extensive planning. With over 20 years of experience in government compliance, Rackspace aims to support entities at various levels including federal, state, and educational sectors.
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Rackspace Technology (Nasdaq: RXT) reported a 7% increase in revenue, totaling $776 million for Q1 2022, driven by new customer acquisitions. Core revenue rose by 9% to $735 million. Despite these gains, the company incurred a net loss of $(39) million, an improvement from $(64) million in Q1 2021. Non-GAAP operating profit decreased by 6% to $112 million. Facing potential strategic shifts after a recent review, Rackspace is optimistic about its growth trajectory amid the expanding cloud market.