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.
Rackspace Technology (NASDAQ: RXT) announced that Holly Windham, the Executive Vice President, Chief Legal and People Officer, has received the 2021 Women, Influence and Power in Law (WIPL) and Texas Diversity Council’s (TXDC) Top General Counsel awards. Windham is recognized for her leadership during crises and her commitment to promoting diversity in the legal and tech sectors. She will be honored at upcoming events, including the Women, Influence & Power in Law Conference on Oct. 7 and the Legal Diversity Summit on Sept. 28. Windham has been with Rackspace since 2017 and plays a key role in its Executive Leadership Team.
Rackspace Technology (NASDAQ: RXT) has launched Rackspace Elastic Engineering for Security, a service designed to enhance cybersecurity operations for organizations. This offering provides customers access to a dedicated team of security experts who work alongside internal teams to tackle complex security and compliance challenges. Key features include personalized security pods, compliance management, threat and vulnerability management, and advanced monitoring services. This initiative positions Rackspace as a unique player in providing cloud-aligned security expertise.
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Rackspace Technology (RXT) reported a record revenue of $744 million for Q2 2021, marking a 13% increase year-over-year. Core revenue grew 17% to $698 million. However, the company recorded a net loss of $(37) million or $(0.18) per diluted share, compared to $(33) million in Q2 2020. Non-GAAP EPS increased 14% to $0.24. Operating cash flow was strong at $106 million. Guidance for Q3 2021 anticipates revenue between $750 - $760 million.
Rackspace Technology (NASDAQ: RXT) has partnered with Arthrex to enhance the post-surgery experience through a digital communications portal built on Amazon Web Services (AWS). This HIPAA-compliant solution features customizable templates for surgeons and efficient patient data sharing. Significant benefits include a 68% reduction in patient calls, allowing healthcare providers to conserve resources. The platform also ensures secure management of private information, with encryption both in transit and at rest. The collaboration underscores Rackspace's commitment to improving healthcare delivery via cloud technology.
Rackspace Technology (RXT) has partnered with iPromote to migrate their infrastructure to Linux on AWS, achieving a 30% reduction in operational costs. This strategic move aims to modernize iPromote's infrastructure, reducing resource consumption and eliminating licensing fees. The project was partially funded by AWS, with Rackspace overseeing both the discovery and implementation phases. iPromote's COO noted that the collaboration enhanced their team’s knowledge and efficiency, presenting a strong opportunity for future innovation and stability.
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Rackspace Technology (NASDAQ: RXT) has been recognized as a Top 15 Sourcing Standout by Information Services Group (ISG) in its 2Q 2021 Global ISG Index™. This distinction highlights Rackspace's performance in the Breakthrough 15 category, which ranks providers based on annual contract value won in the last year across various global regions. Rackspace's VP, Lisa McLin, emphasized the company's commitment to optimizing multicloud journeys and noted progress toward becoming the leading pure-play multicloud services provider.
Rackspace Technology (NASDAQ: RXT) announced $65-$70 million in new investments aimed at enhancing its cloud services and aligning resources with growth initiatives. These investments are expected to be funded by $95-$100 million in gross cost savings through enhanced automation and restructuring. The company revised its second-quarter financial guidance, projecting revenues of $741-$744 million and a non-GAAP EPS of $0.22 to $0.24. Additionally, second-quarter bookings are anticipated to reach around $258 million, marking a 6% increase over Q1 2021.