Rackspace Technology, Inc. (NASDAQ:RXT) shares are down during Friday’s premarket session as the company reported below consensus fiscal 2026 guidance and fourth quarter results on Thursday.
The stock’s decline comes during a mixed market day, with major indices showing a downtrend, particularly impacting technology and related sectors.
Earnings Snapshot
Rackspace Tech reported adjusted EPS loss of one cent per share, which was better than the analyst consensus estimate of loss of three cents.
The company reported sales of $683 million, which beat the analyst consensus estimate of $672.373 million.
Revenue declined 0.4% on a reported basis and 1% on a constant currency basis as Private Cloud segment saw revenues decline of 10% on a reported basis and 11% on a constant currency basis.
The company expects fiscal 2026 adjusted EPS of a loss of 20 cents to 15 cents, compared with consensus estimates of 1 cent profit. It forecasts revenue of $2.6 billion to $2.7 billion, versus the Street view of $2.719 billion.
RXT Stock: 144% Above 20-Day SMA Despite Death Cross
Over the past 12 months, Rackspace Technology has seen a decline of 5.39% in its stock value. Currently, the …