Cogent: Q2 Earnings Snapshot
WASHINGTON (AP) — WASHINGTON (AP) — Cogent Communications Group Inc. (CCOI) on Thursday reported second-quarter net income of $1.12 billion.
The Washington-based company said it had profit of $23.65 per share. Losses, adjusted for non-recurring gains, were 13 cents per share.
The results did not meet Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 6 cents per share.
The internet service provider posted revenue of $239.8 million in the period, which also did not meet Street forecasts. Five analysts surveyed by Zacks expected $259.8 million.
Cogent shares have risen 2% since the beginning of the year.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CCOI at https://www.zacks.com/ap/CCOI
