Welcome to our dedicated page for Cogent Communications Holdings news (Ticker: CCOI), a resource for investors and traders seeking the latest updates and insights on Cogent Communications Holdings stock.
Cogent Communications Holdings, Inc. (NASDAQ: CCOI) stands as one of the world's premier Internet Service Providers (ISPs), delivering high-quality internet, Ethernet, and colocation services. Serving over 61,820 enterprise and net-centric customer connections, Cogent reaches more than 198 markets across 41 countries via its facility-based, all-optical IP network. The company is a significant player in global internet traffic, carrying more than one-fifth of the world's internet over its expansive network.
Cogent provides two main types of services to its corporate clients: dedicated internet access and virtual private networking. The former connects businesses directly to the internet, while the latter offers secure internal network connections for employees across different locations. These corporate services primarily cater to North American clients located in high-rise office buildings, contributing over half of Cogent's revenue.
Additionally, Cogent serves net-centric customers, which include other ISPs and content providers. These customers rely on Cogent for internet transit, seamlessly delivering traffic handed off in data centers. Approximately 50% of the net-centric revenue comes from customers outside the United States.
Cogent continues to expand its offerings, notably through the acquisition of Sprint's Wireline Business, enhancing its portfolio with optical wavelength services and optical transport services. These services are now being marketed to existing and new clients, including prior Sprint customers, targeting those who require high-bandwidth optical transport without the overhead of maintaining network infrastructure.
Cogent's financial health is reinforced by robust service revenues, which reached $275.4 million for Q3 2023, marking a 14.9% increase from Q2 2023 and an 83.6% rise year-over-year. Despite challenges presented by foreign exchange rates and a fluctuating economic landscape, Cogent has shown resilience with strong on-net and off-net revenue growth.
The company has also maintained a steady dividend growth, with the latest quarterly dividend increase to $0.975 per share approved in May 2024, reflecting confidence in sustained financial performance.
Despite the residual impacts of the COVID-19 pandemic on corporate office occupancy, Cogent has adapted by supporting remote working applications and higher-capacity internet access upgrades. These efforts are crucial as it braces for potentially increased corporate turnover and fewer new tenant opportunities.
Cogent invites investors and stakeholders to join its quarterly earnings calls to stay updated on financial results and strategic developments. For more details, visit www.cogentco.com.
Cogent Communications Holdings (NASDAQ: CCOI), a leading global Internet service provider, announced that its CEO, Dave Schaeffer, will present at the RBC Capital Markets 2024 Global TIMT Conference. The event will take place at the InterContinental New York Barclay on Wednesday, November 20th at 9:20 a.m. ET.
Investors and interested parties can access a live audio webcast of the presentation through the 'Events' section on Cogent's website. A replay of the webcast will be available for 90 days following the presentation.
Cogent Communications (NASDAQ: CCOI) reported Q3 2024 service revenue of $257.2 million, a 1.2% decrease from Q2 2024 and 6.6% decrease from Q3 2023. EBITDA increased by 32.2% to $35.9 million in Q3 2024, with margin improving to 13.9%. Notable metrics include wavelength revenue growth of 45.8% sequentially to $5.3 million and IPv4 address leasing revenue increase of 11.8% to $12.8 million. The company increased its quarterly dividend by $0.01 to $0.995 per share, marking its 49th consecutive quarterly increase. Total customer connections decreased by 8.5% year-over-year to 126,333.
Cogent Communications Holdings, Inc. (NASDAQ: CCOI) has announced it will host a conference call on November 7, 2024 at 8:30 a.m. ET to present its third quarter 2024 operating results and answer questions. The company will issue a press release with the results at 7:00 a.m. ET on the same day.
Participants can access the call using the following dial-in numbers:
- 1-888-596-4144 for U.S. and Canadian callers
- 1-646-968-2525 for international callers
The Conference ID is 6641307. Callers are advised to dial in 15 minutes before the start time. An audio webcast will be available on Cogent's website under the 'Events' section and will remain accessible until November 21, 2024. A printed transcript will be posted on the website when available.
Cogent Communications (NASDAQ: CCOI), a leading global Internet service provider, has announced that CEO Dave Schaeffer will present at two upcoming conferences. The first is the Deutsche Bank 32nd Annual Leveraged Finance Conference in Scottsdale, AZ, where Schaeffer will speak on September 24 at 2:55 p.m. PT. The second is the RBC 2024 Global Communications Infrastructure Conference in Chicago, IL, scheduled for September 25 at 9:20 a.m. CT.
Investors and interested parties can access live audio webcasts of both presentations through the 'Events' section of Cogent's website. Replays will be available for 90 days following each presentation, providing an opportunity for those unable to attend to stay informed about Cogent's latest developments and strategies.
Cogent Communications (NASDAQ: CCOI), a leading global Internet service provider, has announced that CEO Dave Schaeffer will present at three upcoming conferences in September 2024:
- The Citi 2024 Global TMT Conference in New York on September 4 at 1:20 p.m. ET
- The BofA Securities 2024 Media, Communications and Entertainment Conference in New York on September 5 at 10:30 a.m. ET
- The Goldman Sachs 2024 Communacopia & Technology Conference in San Francisco on September 9 at 10:10 a.m. PT
Investors can access live audio webcasts of these presentations through the 'Events' section of Cogent's website. Replays will be available for 90 days after each presentation.
Cogent Communications (NASDAQ: CCOI) reported Q2 2024 results, highlighting service revenue of $260.4 million, an 8.6% increase YoY but a 2.2% decrease QoQ. The company's EBITDA margin improved to 10.4%, and Non-GAAP gross margin rose to 40.2%.
Key actions included issuing $206 million in 7.9% IPV4 Securitized Notes and $300 million in 7.0% Unsecured Notes. They also repurchased 153,322 shares for $8 million and increased their dividend to $0.985 per share.
On-net revenue grew by 1.5% QoQ and 10.3% YoY to $140.6 million, while off-net revenue declined by 5.7% QoQ but increased by 9.3% YoY. Wavelength revenue surged by 128.7% YoY.
GAAP gross profit decreased by 39.3% YoY but improved by 14.8% QoQ. The company faced challenges with reduced net cash from operations and rising costs related to the Sprint acquisition.
Overall, Cogent's financial health shows mixed results, balancing revenue growth with operational costs and strategic investments.
Cogent Communications Holdings, Inc. (NASDAQ: CCOI), a leading global Internet service provider, has announced a change in webcast information for an upcoming conference. CEO Dave Schaeffer will present at the BofA SMID Cap Conference on Tuesday, August 6th at 2:00 p.m. ET. The conference is being held virtually and will not be webcast live.
However, investors and interested parties can access an audio replay of the presentation through the 'Events' section of Cogent's website at www.cogentco.com/events. The replay will be available for 90 days following the presentation.
Cogent Communications (NASDAQ: CCOI), a leading global Internet service provider, has announced that CEO Dave Schaeffer will present at four upcoming conferences in August 2024. These include:
- The KeyBanc Capital Markets Technology Leadership Forum in Vail, CO (August 5th)
- The BofA SMID Cap Conference (virtual, August 6th)
- The 27th Annual Oppenheimer Technology, Internet & Communications Conference (virtual, August 12th)
- The 10th Annual TD Cowen Communications Infrastructure Summit in Boulder, CO (August 13th)
Investors can access live audio webcasts of these presentations through the 'Events' section of Cogent's website, with replays available for 90 days after each event.
Cogent Communications Holdings, Inc. (NASDAQ: CCOI) has announced it will host a conference call on August 8, 2024, at 8:30 a.m. ET to present its second quarter 2024 operating results. The company will issue a press release with the results at 7:00 a.m. ET on the same day. Investors and interested parties can access the call via phone or internet. The dial-in numbers are 1-888-596-4144 for U.S. and Canadian callers, and 1-646-968-2525 for international callers, using Conference ID 6641307. An audio webcast will be available on Cogent's website under the 'Events' section and will remain accessible until August 22, 2024. Cogent recommends callers dial in 15 minutes before the start of the call.
Cogent Communications announced a $300 million offering of 7.000% senior notes due 2027. These notes will be sold to qualified institutional buyers under Rule 144A and non-U.S. persons under Regulation S. Proceeds will be used to prepay an existing $125 million agreement and for general corporate purposes, including potential dividends. The new notes are similar to existing 7.00% senior notes but will not be fungible with them. There is no assurance of the notes' sale completion.
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