Cogent Communications Q3 Net Loss Widens as Revenue Falls; Quarterly Dividend Boosted

MT Newswires Live

2024-11-07

Cogent Communications Holdings (CCOI) reported a Q3 net loss Thursday of $1.33 per diluted share, widening from a loss of $1.20 a year earlier.

Analysts polled by Capital IQ expected a loss of $1.13 per share.

Service revenue for the quarter ended Sept. 30 was $153.6 million, down from $275.4 million a year earlier.

Analysts surveyed by Capital IQ expected $259 million.

The company said it has raised its quarterly dividend to $0.995 per share, from $0.985 per share in the most recent quarter. The higher dividend is payable on Dec. 6 to shareholders of record as of Nov. 22.

Shares of Cogent Communications were down 3.2% in recent Thursday premarket activity.

Price: 82.00, Change: -2.70, Percent Change: -3.19

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