AISiliconANGLEabout 2 hours ago
Rackspace beats estimates but losses widen in AI pivot
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Rackspace Technology Inc. beat Q2 earnings and revenue expectations, reporting $670.1 million in revenue and an eight-cent per-share profit, but net losses widened to $67.5 million. The San Antonio company faces a securities fraud lawsuit over its AI pivot and cut full-year guidance by $150 million.
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