Why Rackspace Technology Stock Surged 23% Higher This Morning
In the third quarter of 2021, Rackspace's sales rose 12% year over year to $763 million. Your average Wall Street analyst would have settled for earnings near $0.24 per share on revenue in the neighborhood of $756 million. Rackspace's new order bookings came in at approximately $200 million, far below the year-ago period's $315 million.