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Cogent (CCOI) Reports Q1 Earnings: What Key Metrics Have to Say
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For the quarter ended March 2024, Cogent Communications (CCOI - Free Report) reported revenue of $266.17 million, up 73.3% over the same period last year. EPS came in at -$1.29, compared to $0.13 in the year-ago quarter.
The reported revenue represents a surprise of -2.90% over the Zacks Consensus Estimate of $274.13 million. With the consensus EPS estimate being -$1.10, the EPS surprise was -17.27%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Cogent performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Customer Connections - On-net: 87,574 compared to the 90,916 average estimate based on three analysts.
Customer Connections - Non-Core: 10,037 versus 11,804 estimated by three analysts on average.
Customer Connections - Total: 132,883 versus the three-analyst average estimate of 140,056.
Customer Connections - Off-net: 34,579 versus the three-analyst average estimate of 37,336.
Total On-Net buildings: 3,321 versus the two-analyst average estimate of 3,306.
Net Adds - Total On-Net Buildings: 44 compared to the 29 average estimate based on two analysts.
Corporate Revenue: $124.86 million versus the four-analyst average estimate of $125.99 million.
Revenue- Enterprise: $49.33 million compared to the $53.17 million average estimate based on four analysts.
Net-Centric Revenue: $91.98 million versus the four-analyst average estimate of $93.83 million.
Revenue- Service revenue- Non-Core revenue: $6.04 million compared to the $7.02 million average estimate based on two analysts. The reported number represents a change of +3627.8% year over year.
Revenue- Service revenue- On-Net revenue: $138.62 million versus $146.80 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +19.4% change.
Revenue- Service revenue- Off-Net revenue: $118.18 million compared to the $121.24 million average estimate based on two analysts. The reported number represents a change of +217% year over year.
Shares of Cogent have returned -1.8% over the past month versus the Zacks S&P 500 composite's -0.3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Cogent (CCOI) Reports Q1 Earnings: What Key Metrics Have to Say
For the quarter ended March 2024, Cogent Communications (CCOI - Free Report) reported revenue of $266.17 million, up 73.3% over the same period last year. EPS came in at -$1.29, compared to $0.13 in the year-ago quarter.
The reported revenue represents a surprise of -2.90% over the Zacks Consensus Estimate of $274.13 million. With the consensus EPS estimate being -$1.10, the EPS surprise was -17.27%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Cogent performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Customer Connections - On-net: 87,574 compared to the 90,916 average estimate based on three analysts.
- Customer Connections - Non-Core: 10,037 versus 11,804 estimated by three analysts on average.
- Customer Connections - Total: 132,883 versus the three-analyst average estimate of 140,056.
- Customer Connections - Off-net: 34,579 versus the three-analyst average estimate of 37,336.
- Total On-Net buildings: 3,321 versus the two-analyst average estimate of 3,306.
- Net Adds - Total On-Net Buildings: 44 compared to the 29 average estimate based on two analysts.
- Corporate Revenue: $124.86 million versus the four-analyst average estimate of $125.99 million.
- Revenue- Enterprise: $49.33 million compared to the $53.17 million average estimate based on four analysts.
- Net-Centric Revenue: $91.98 million versus the four-analyst average estimate of $93.83 million.
- Revenue- Service revenue- Non-Core revenue: $6.04 million compared to the $7.02 million average estimate based on two analysts. The reported number represents a change of +3627.8% year over year.
- Revenue- Service revenue- On-Net revenue: $138.62 million versus $146.80 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +19.4% change.
- Revenue- Service revenue- Off-Net revenue: $118.18 million compared to the $121.24 million average estimate based on two analysts. The reported number represents a change of +217% year over year.
View all Key Company Metrics for Cogent here>>>Shares of Cogent have returned -1.8% over the past month versus the Zacks S&P 500 composite's -0.3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.