From Nasdaq: 2024-05-10 12:34:00

Cogent Communications Holdings, Inc. (CCOI) reported disappointing first-quarter 2024 results, with a net loss of $65.3 million and a non-GAAP loss per share of $1.29. Despite a top-line expansion, revenues fell short of estimates, driven by solid growth in Off-Net revenues and a strong demand in net-centric business.

On-Net revenues were $138.6 million, missing estimates, while Off-Net revenues stood at $118.2 million, increasing customer connections and showing potential growth. Cogent raised its quarterly dividend and generated $19.2 million from operating activities in Q1 2024.

With a Zacks Rank #3 (Hold), Cogent faces competition from NVIDIA Corporation (NVDA), Arista Networks, Inc. (ANET), and Silicon Motion Technology Corporation (SIMO). NVDA boasts a 20.18% earnings surprise, ANET has strong momentum and diversification, while SIMO delivers a 4.72% earnings surprise on average. All companies are poised for potential success and growth.



Read more at Nasdaq: Cogent (CCOI) Q1 Loss Wider Than Expected Despite Top-Line Growth