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Mar 31, 2022
Cogent Q1 2022 Earnings Report
Cogent's service revenue increased, driven by growth in on-net revenue and a slight increase in off-net revenue, while managing the impact of foreign exchange rates and excise taxes.
Key Takeaways
Cogent Communications reported a service revenue increase of 1.3% compared to the previous quarter and 1.6% year-over-year, reaching $149.2 million for the three months ended March 31, 2022. The company managed impacts from foreign exchange rates and excise taxes while experiencing growth in on-net revenue.
Service revenue increased by 1.3% from the previous quarter and 1.6% year-over-year, reaching $149.2 million.
On-net revenue increased by 1.7% from the previous quarter and 2.4% year-over-year, totaling $112.6 million.
Off-net revenue increased slightly by 0.2% from the previous quarter but decreased by 0.9% year-over-year, amounting to $36.4 million.
GAAP gross profit increased by 2.0% year-over-year, reaching $69.0 million, with a gross margin of 46.3%.
Revenue by Segment
Forward Guidance
Cogent will host a conference call with financial analysts at 8:30 a.m. (ET) on May 5, 2022 to discuss Cogent’s operating results for the first quarter of 2022 and to discuss Cogent’s expectations for full year 2022.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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