<ul><li>Rackspace Technology Inc. reported a third straight quarterly loss with revenue declines in major business segments, yet managed to improve its bottom line in the first quarter.</li><li>The company exceeded analysts' expectations by reporting a loss of 6 cents per share and revenue of $655 million, down 4% from the previous year.</li><li>CEO Amar Maletira highlighted meeting or beating Wall Street's targets for the 11th consecutive quarter, while expressing caution about the economy potentially affecting customer onboarding.</li><li>Rackspace's strategic shift towards cloud consultancy resulted in operational improvements, reflected in an 83% increase in operating profit from a year ago. Investors responded positively with a 2% gain in extended trading.</li></ul>

Rackspace’s operational turnaround accelerates, despite more revenue declines

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