Investing.com - Rackspace reported on Wednesday third quarter earnings that beat analysts' forecasts and revenue that topped expectations.
Rackspace announced earnings per share of $0.10 on revenue of $788M. Analysts polled by Investing.com anticipated EPS of $0.09 on revenue of $773.15M.
Rackspace shares are down 19% from the beginning of the year , still down 76.43% from its 52 week high of $18.50 set on Tuesday, November 16, 2021.
Rackspace shares gained 4.13% in after-hours trade the report.
Rackspace follows other major Information Technology sector earnings this month
Rackspace's report follows an earnings beat by Apple on Thursday, October 27, 2022, who reported EPS of $1.29 on revenue of $90.1B, compared to forecasts EPS of $1.26 on revenue of $88.76B.
Microsoft had beat expectations on Tuesday, October 25, 2022 with first quarter EPS of $2.35 on revenue of $50.1B, compared to forecast for EPS of $2.32 on revenue of $49.86B.
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