🔴 Rackspace Technology is trading 6% down today after lowered full-year adjusted EPS guidance

Rackspace Technology is trading 6% down at $4.36 after investors continued repricing the August 10 earnings report following a revenue miss and lower adjusted EPS guidance.

• Second-quarter revenue was $670 million, below the $678.5 million consensus estimate; Public Cloud revenue declined 2% year over year.
• Operating cash flow used $32 million, while full-year adjusted EPS guidance fell to $(0.30)-$(0.25) from $(0.20)-$(0.15), despite maintained revenue guidance, reinforcing concerns about profitability and cash generation.