Cogent Communications Holdings, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 09, 2023 at 05:53 pm IST
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Cogent Communications Holdings, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported net loss was USD 56.72 million compared to USD 8.01 million a year ago. Basic loss per share from continuing operations was USD 1.2 compared to USD 0.17 a year ago. Diluted loss per share from continuing operations was USD 1.2 compared to USD 0.17 a year ago.
For the nine months, net income was USD 1,073.29 million compared to USD 4.29 million a year ago. Basic earnings per share from continuing operations was USD 22.72 compared to USD 0.09 a year ago. Diluted earnings per share from continuing operations was USD 22.54 compared to USD 0.09 a year ago.
Cogent Communications Holdings, Inc. is a facilities-based provider of Internet access, private network services and data center colocation space and power. The Companyâs network is specifically designed and optimized to transmit packet routed data. The Company, through its own facilities, offers on-net Internet access services to customers located in buildings that are physically connected to its network. Its on-net service consists of high-speed Internet access and private network services offered at speeds ranging from megabits per second (Mbps) to gigabits per second (Gbps). The Company delivers its services on its network in 54 countries across North America, Europe, Asia, South America, Oceania and Africa. Its corporate customers are located in multi-tenant office buildings (MTOBs), which typically include law firms, financial services firms, advertising and marketing firms, as well as health care providers, educational institutions and other professional services businesses.