Rackspace Expertise, Inc. (NASDAQ: RXT) noticed its share costs drop considerably on releasing outcomes for its fourth quarter and yr ended December 31, 2020.
Fourth-Quarter Income of $716 million, up 14% Yr-over-Yr; 2020 Income was $2,707 million, up 11% Yr-over-Yr
Fourth-Quarter Bookings got here in at $293 million, a rise of 27% Yr-over-Yr; 2020 Bookings of $1,126 million, a rise of 61% Yr-over-Yr
Fourth-Quarter Internet lack of $(64) million, or $(0.32) per diluted share; 2020 Internet lack of $(246) million, or $(1.37) per diluted share
Fourth-Quarter Adjusted EBITDA was $199 million and 2020 Adjusted EBITDA was $763 million; Adjusted EBITDA margin was 28% for each Fourth Quarter and Full Yr 2020
Fourth-Quarter Non-GAAP Earnings Per Share of $0.26, up 24% Yr-over-Yr; 2020 Non-GAAP Earnings Per Share of $0.83, up 118%
Stated CEO Kevin Jones, “The fourth quarter capped off a improbable yr for Rackspace Expertise. Our success in energizing gross sales bookings in 2020 continues to drive-double digit income progress. As well as we’re seeing very robust earnings leverage as earnings progress outpaced income progress for each the fourth quarter and the total yr.”
Jones continued, “We imagine Rackspace Expertise is extraordinarily effectively positioned to capitalize on the tectonic shift to the cloud. Now we have the individuals, companions, experience and automation to assist clients of all sizes optimize their multi-cloud journey, all wrapped within the fanatical buyer expertise for which we’re identified. “
RXT shares fell $2.96, or 11.8% to $22.00.