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Sep 30, 2020
Cogent Q3 2020 Earnings Report
Cogent's service revenue increased, driven by growth in on-net revenue and a positive impact from foreign exchange, while the company managed the ongoing challenges posed by the COVID-19 pandemic.
Key Takeaways
Cogent Communications reported a 3.9% year-over-year increase in service revenue, reaching $142.3 million for the quarter ended September 30, 2020. The company experienced growth in on-net revenue and managed the impact of the COVID-19 pandemic, which included a decrease in sales productivity and potential customer delays.
Service revenue increased by 3.9% year-over-year, reaching $142.3 million.
On-net revenue grew by 5.7% year-over-year, totaling $105.1 million.
GAAP gross profit increased by 7.3% year-over-year, amounting to $66.2 million.
The Board approved a regular quarterly dividend increase of $0.025 per share.
Cogent
Cogent
Cogent Revenue by Segment
Revenue by Segment
On-Net Revenue
CapyFin.comOff-Net Revenue
CapyFin.comNon-Core Revenue
CapyFin.com Forward Guidance
Cogent's full year 2020 expectations were discussed on the conference call with financial analysts on November 5, 2020.
Revenue & Expenses
Visualization of income flow from segment revenue to net income