Friday, Cogent Communications Group, Inc. (CCOI), reported a narrower loss for the second quarter from last year, reflecting higher revenues due to an increase in customer connections.
Net loss for the second quarter narrowed to $4.45 million or $0.10 per share from $7.63 million or $0.17 per share in the previous year.
On average, 10 analysts polled by Thomson Reuters expected the company to report a loss of $0.15 per share. Analysts' estimates typically exclude special items.
Adjusted earnings before interest, taxes, depreciation and amortization for the second quarter was $16.7 million, compared to $16.6 million last year.
Service revenue for the quarter increased 7.7% to $57.99 million from $53.86 million last year.
Ten analysts had a consensus revenue estimate of $56.81 million for the quarter.
On-net revenue was $46.5 million for the second quarter, an increase of 5.1% over the previous year. Off-net revenue was $10.6 million, an increase of 24.9% from the prior year. Non-core revenue declined to $1.0 million from $1.2 million a year ago.
Total customer connections increased to 20,428 as of June 30, 2009 from 16,181 as of June 30, 2008. On-net customer connections increased to 15,988 from 12,502 and Off-net customer connections increased to 3,291 from 2,994 during the same periods. Non-core customer connections increased 1,149 from 685.
For the six-month period, net loss narrowed to $12.61 million or $0.29 from $19.21 million or $0.42 per share in the previous year. Service revenue for the period increased to $113.07 million from $105.97 million a year ago.
CCOI is currently trading at $10.71, up 1.70 or 18.87% on a volume of 518.87 shares on the Nasdaq.
For comments and feedback contact: editorial@rttnews.com
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.