Cogent Communications (CCOI) reported $153.59 million in revenue for the quarter ended March 2023, representing a year-over-year increase of 3%. EPS of $0.13 for the same period compares to $0.02 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $153.73 million, representing a surprise of -0.09%. The company delivered an EPS surprise of +18.18%, with the consensus EPS estimate being $0.11.
While investors closely watch year-over-year changes in headline numbers — revenue and earnings — and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company’s underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock’s price performance.
Here is how Cogent performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Customer Connections – Off-net: 13785 versus the four-analyst average estimate of 13695.91.
- Total On-Net buildings: 3190 versus the four-analyst average estimate of 3182.5.
- Customer Connections – On-net: 83268 versus 83484.42 estimated by four analysts on average.
- Customer Connections – Non-Core: 374 versus 359.72 estimated by three analysts on average.
- Customer connections – Total: 97427 compared to the 97617.48 average estimate based on three analysts.
- Revenue- Service revenue- On-Net revenue: $116.14 million versus $116.16 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +3.1% change.
- Revenue- Service revenue- Non-Core revenue: $0.16 million compared to the $0.19 million average estimate based on five analysts. The reported number represents a change of +5.2% year over year.
- Revenue- Service revenue- Off-Net revenue: $37.28 million compared to the $37.07 million average estimate based on five analysts. The reported number represents a change of +2.5% year over year.
View all Key Company Metrics for Cogent here>>>
Shares of Cogent have returned +14.9% over the past month versus the Zacks S&P 500 composite’s -0.7% change. The stock currently has a Zacks Rank #5 (Strong Sell), indicating that it could underperform the broader market in the near term.
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Cogent Communications Holdings, Inc. (CCOI) : Free Stock Analysis Report
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