Rackspace Technology reports Q3 EPS (4c), consensus (5c)

Reports Q3 revenue $732.40M, consensus $726.90M. reports Private Cloud Revenue was $300 M, down 13% Year-over-Year; Public Cloud Revenue was $433 million, down 3% Year-over-Year…Amar Maletira, Chief Executive Officer, stated, “Fiscal third quarter 2023 results exceeded the midpoint of our revenue, operating profit, and EPS guidance. Our two-business unit operating model is now fully implemented, and our leadership teams are executing to their plans.” Mr. Maletira added, “We continue to launch new offerings across all lines of business including Public Cloud, Private Cloud, and AI. We also see our industry vertical strategy generating good traction in Private Cloud.”