AI
Cogent Communications Q3 loss narrows
Internet access and protocol provider Cogent Communications Group Inc (CCOI.O: Quote, Profile, Research) posted a narrower third-quarter loss, but shares fell about 5 percent.
"Shares are down because on-net revenue growth is below guidance and incremental EBITDA margins came lighter than expected," Jefferies & Co. analyst Jonathan Schildkraut said by e-mail.
The company's third-quarter on-net revenue grew 6.5 percent to $37.6 million sequentially, missing the growth forecast of 7 percent to 9 percent provided in August.
For the quarter, the company reported adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) of $11.7 million, which was below Wall Street's view for EBITDA of $12.0 million.
The company posted a third-quarter loss of $5.4 million, or 12 cents a share, compared with a loss of $11.9 million, or 24 cents a share in the year-ago period. Net service revenue rose 24 percent to $47 million.
Analysts on average were expecting Cogent to post a loss of 21 cents a share, excluding items, on revenue of $46.9 million, according to Reuters Estimates.
Cogent also forecast fourth-quarter loss of 17 cents to 22 cents a share, including items, on net service revenue of $49 million to $50 million. Analysts on average are expecting a loss of 21 cents a share, on revenue of $49.0 million.
http://www.reuters.com/article/marketsNews/idUSBNG2436020071107
Internet access and protocol provider Cogent Communications Group Inc (CCOI.O: Quote, Profile, Research) posted a narrower third-quarter loss, but shares fell about 5 percent.
"Shares are down because on-net revenue growth is below guidance and incremental EBITDA margins came lighter than expected," Jefferies & Co. analyst Jonathan Schildkraut said by e-mail.
The company's third-quarter on-net revenue grew 6.5 percent to $37.6 million sequentially, missing the growth forecast of 7 percent to 9 percent provided in August.
For the quarter, the company reported adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) of $11.7 million, which was below Wall Street's view for EBITDA of $12.0 million.
The company posted a third-quarter loss of $5.4 million, or 12 cents a share, compared with a loss of $11.9 million, or 24 cents a share in the year-ago period. Net service revenue rose 24 percent to $47 million.
Analysts on average were expecting Cogent to post a loss of 21 cents a share, excluding items, on revenue of $46.9 million, according to Reuters Estimates.
Cogent also forecast fourth-quarter loss of 17 cents to 22 cents a share, including items, on net service revenue of $49 million to $50 million. Analysts on average are expecting a loss of 21 cents a share, on revenue of $49.0 million.
http://www.reuters.com/article/marketsNews/idUSBNG2436020071107
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