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) has been named Dell Technologies Global Alliances Service Provider of the Year, Americas. This recognition highlights Rackspace's leadership in end-to-end, hybrid multicloud, and AI solutions. The award celebrates the successful collaboration between Rackspace and Dell, offering integrated solutions that address business and IT challenges, driving digital transformation, and providing value to customers. Adrianna Bustamante, VP of Private Cloud Partnerships, emphasized that this accolade underscores their efforts in hybrid multicloud, healthcare, and AI, enabling cost reductions, data control improvements, and new AI use cases while ensuring compliance and security.
Rackspace Technology (NASDAQ: RXT) announced that Seattle Children's has successfully implemented its Epic Electronic Health Records (EHR) system using Rackspace’s Healthcare Cloud solution.
This decision followed a thorough evaluation of cloud service providers, leading to Rackspace's selection for managing migrations and providing fully managed private cloud infrastructure services for Epic.
The collaboration involves SLA-backed managed services, a predictable cost model, and expandability for growth, enabling improved patient care and optimized business operations.
Rackspace's role includes seamless migration and support for Epic infrastructure, facilitating better patient care coordination and data management.
Rackspace Technology reported first quarter 2024 results with revenue of $691 million, down 9% year-over-year. Private Cloud revenue was $268 million, down 15% year-over-year, while Public Cloud revenue was $422 million, down 5% year-over-year. The company achieved results above the high-end of guidance for revenue, operating profit, and EPS. However, there was a loss from operations of $(653) million, with non-GAAP Operating Profit decreasing by 68% to $16 million. The company aims to position itself for consistent revenue and profit growth in 2024.
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