Cogent Q3 2021 Earnings Report
Key Takeaways
Cogent Communications reported a service revenue increase of 4.0% year-over-year and 0.03% sequentially. The company's on-net revenue and total customer connections also increased. The Board approved a dividend increase of $0.025 per share from the third quarter 2021.
Service revenue increased by 4.0% year-over-year to $147.9 million.
On-net revenue increased by 5.7% year-over-year to $111.1 million.
Total customer connections increased by 5.1% year-over-year to 92,991.
The Board approved a regular quarterly dividend of $0.830 per common share.
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Cogent Revenue by Segment
Forward Guidance
Cogent expects to return the rest of its employees outside of the United States to its offices on a full-time basis in the fourth quarter of 2021. The company is implementing measures to protect its workforce but can provide no assurance that these measures will be sufficient.