Rackspace reports softer Q1 guidance after Q4 results beat

Investing.com -- Rackspace reported Tuesday weaker-than-expected for the current quarter, but fourth-quarter results topped Wall Street estimates amid a year of transition for the cloud computing services provider.

Rackspace Technology Inc (NASDAQ: RXT) was up 1% in afterhours trading following the report.

For fiscal Q1, the company expects an adjusted loss in a range of $0.12 to $0.14 per diluted share on revenue of $680 million to $690 million, missing estimates for an adjusted loss of $0.04 per share on revenue of $709.8M.

The underwhelming guidance offset Q4 results that topped Wall Street estimates.

For the three months ended Dec. 31, the company reported an adjusted loss of $0.03 on revenue of $720M, above Wall Street estimates for a loss of $0.04 on revenue of $715.6M.

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