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.
Rackspace Technology (NASDAQ: RXT) has partnered with FINCAD to migrate its legacy application to Amazon Web Services (AWS). This collaboration aims to enhance application performance and streamline management through increased automation. By leveraging Rackspace's support, FINCAD will modernize its infrastructure, improve productivity, and reduce operational costs. The migration will also empower FINCAD to further transition additional elements to the cloud, optimizing their technology stack and ensuring effective security and compliance practices.
Rackspace Technology (RXT) has been awarded the title of AWS Migration Partner of the Year for Canada by Amazon Web Services. This recognition highlights Rackspace's expertise in aiding customers with their digital transformations and cloud migrations. The company, through its dedicated AWS business Onica, holds 15 AWS competencies and has achieved over 2,700 certifications. This accolade follows Rackspace's previous recognition in the UK and Ireland as APN Migration Partner of the Year in November 2020.
Rackspace Technology (NASDAQ: RXT) has been recognized as a Top 15 Sourcing Standout by Information Services Group (ISG), ranking among leading providers globally and across regions due to strong annual contract value (ACV) wins in the past year. This acknowledgment highlights Rackspace's double-digit revenue growth in 2020 and exceptional earnings leverage. The ISG Index™ serves as an authoritative source for market intelligence, indicating Rackspace's significant position in the multicloud services sector.
Rackspace Technology reported a strong first quarter of 2021, achieving revenue of $726 million, marking an 11% year-over-year increase. Core revenue grew 15% to $677 million. Despite a net loss of $(64) million or $(0.31 per diluted share, Non-GAAP EPS rose 44% to $0.23. Operating cash flow improved significantly to $103 million, a four-fold increase year-over-year. The company anticipates second-quarter revenue guidance of $735-$745 million.
Rackspace Technology (NASDAQ: RXT) has launched its new solution, Rackspace Services for VMware Cloud, which offers a fully managed VMware experience with features like consumption-based pricing and self-service management. The solution is built on VMware Cloud Director technology and Dell EMC VxRail. It allows mixed tenancy options and provides rapid real-time deployment. The company emphasizes its collaboration with VMware to enhance customer experience and operational efficiency in the cloud.
Rackspace Technology has announced a strategic investment in Platform9, a leading SaaS Managed Kubernetes provider, as part of their commitment to advancing multicloud solutions. The partnership aims to enhance product offerings and accelerate customer cloud journeys. The newly launched Rackspace Managed Platform for Kubernetes (MPK) addresses common challenges of deploying and managing applications across various clouds. This collaboration reflects the growing demand for efficient cloud-native solutions, facilitating improved delivery metrics and digital transformation for businesses.
Rackspace Technology (NASDAQ: RXT) will release its Q1 2021 financial results on May 10, 2021, after market close. CEO Kevin Jones and CFO Amar Maletira will host a conference call at 5:00 pm ET to discuss the results. Interested parties can join the call by dialing 1-877-300-8521 (domestic) or 1-412-317-6026 (international), and can also access a live webcast via the company’s website. An audio replay will be available for three hours post-call until May 24, 2021.
Rackspace Technology (NASDAQ: RXT) announced a partnership with Apria Healthcare to modernize its legacy IT infrastructure, achieving a 32% reduction in operating costs. The collaboration included consolidating and securing Apria's data center using Rackspace's Professional Services for Amazon Web Services and private cloud solutions. The upgrade led to enhanced efficiency, reduced space requirements from ten racks to one, and improved application performance. Apria's focus has shifted from IT maintenance to customer service, allowing it to better align its resources with revenue-generating activities.
On April 20, 2021, Rackspace Technology (NASDAQ: RXT) announced its achievement of the Amazon Web Services (AWS) Machine Learning Competency in the new Applied Artificial Intelligence and Machine Learning Operations (MLOps) categories. This recognition reflects Rackspace's expertise in developing and integrating ML solutions on AWS, enabling clients to leverage intelligent applications and improve efficiency. The company's innovative frameworks for automated ML processes have significantly improved client operations, including a 50% reduction in infrastructure costs for clients such as Brave Software and enhanced survey analysis for McChrystal Group.
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