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. (NASDAQ: RXT) is a Software – Infrastructure company that describes itself as an end-to-end hybrid cloud, multicloud, and AI solutions provider. The RXT news feed on Stock Titan aggregates company announcements, press releases, and third-party coverage that explain how Rackspace designs, builds, and operates cloud environments across major technology platforms.
News about Rackspace Technology often highlights developments in hybrid and multicloud services, AI-focused offerings, and partnerships with major cloud providers. Recent announcements have covered topics such as the launch of Rackspace AI launchpad, a managed service to help organizations evaluate, pilot, and deploy AI workloads, and the use of Rackspace AI Anywhere as a private cloud foundation for secure AI and machine learning capabilities. Other stories describe customer projects involving rapid migration of business-critical workloads to public cloud platforms and multicloud strategies that span providers like Microsoft Azure and Google Cloud.
Investors and technology professionals can also follow updates on certifications, awards, and industry recognitions. Rackspace Technology has reported achievements including VMware Sovereign Cloud certification for its UK Sovereign Services, an AWS Collaboration Partner of the Year award, and the AWS Automotive Competency, as well as leadership positions in the ISG Provider Lens™ Multi Public Cloud Services Report. Leadership changes, board updates, and financial results are typically announced through press releases and related SEC filings.
By monitoring this RXT news page, readers can review how Rackspace Technology communicates its progress in hybrid cloud, AI, data, and security services, along with examples of customer engagements in sectors such as automotive, retail, healthcare, financial services, and the public 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.
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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.
Rackspace Technology (NASDAQ: RXT) has launched Rackspace Elastic Engineering, a new service model aimed at transforming cloud managed services. Unlike traditional fixed-scope solutions, this model offers customizable, on-demand access to dedicated cloud engineering teams, facilitating ongoing innovation and modernization. Supporting AWS, Microsoft Azure, and Google Cloud, the model enhances collaboration between customers and Rackspace engineers through dedicated teams called 'Pods'. The company aims to meet growing demands for agile, DevOps-oriented cloud solutions.
Rackspace Technology (NASDAQ: RXT) announced a collaboration with Brave Software, enhancing Brave's web browser efficiency and scalability. By leveraging AWS services, Rackspace helped Brave reduce infrastructure costs by 50% and streamline machine learning model deployment. Brave reported improved responsiveness to advertisers' needs due to this partnership. Rackspace holds the AWS Machine Learning Competency status, showcasing its expertise in cloud solutions tailored for machine learning applications.
Rackspace Technology (NASDAQ: RXT) will host a virtual roundtable on April 12 at 10:00 AM CT, titled What Your Cloud Strategy May Be Overlooking. Guest speaker Bill Martorelli from Forrester will address common misconceptions about cloud strategies and emphasize the importance of hybrid and multicloud environments. The discussion will cover the significance of selecting the right cloud technology for specific workloads, the role of private cloud, and the integration of serverless technologies. An expert panel will join Martorelli for further insights.