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Mar 31, 2023
Cogent Q1 2023 Earnings Report
Cogent reported Q1 2023 results, closed acquisition of Sprint Wireline business and increased quarterly dividend.
Key Takeaways
Cogent Communications announced service revenue of $153.6 million for the three months ended March 31, 2023, representing a 3.0% increase compared to the same period in 2022. Basic and net diluted income per share was $0.13 for the three months ended March 31, 2023. The company closed its acquisition of the Sprint Wireline Business on May 1, 2023 and increased its regular quarterly dividend by 1.1% to $0.935 per share.
Service revenue increased by 3.0% year-over-year to $153.6 million.
On-net revenue increased by 3.1% year-over-year to $116.1 million.
Off-net revenue increased by 2.5% year-over-year to $37.3 million.
Basic and net diluted income per share was $0.13.