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Rackspace Technology, Inc. (NASDAQ:RXT) shares continued their massive rally Friday. This follows a high-profile partnership and better-than-expected revenue.
Revenue Beats Street Estimates
Rackspace reported first-quarter sales of $678.100 million. This marks a 2% year-over-year increase. The figure topped the Street estimate of $660.83 million. Public cloud revenue led the way, climbing 7% to $443 million. However, private cloud revenue fell 6% to $235 million.
Strategic AMD Partnership
The company signed a Memorandum of Understanding with Advanced Micro Devices, Inc. (NASDAQ:AMD). They aim to create managed enterprise AI infrastructure. The collaboration integrates AMD’s Instinct …
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