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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 (NASDAQ: CCOI) has announced a conference call scheduled for May 4, 2023, at 8:30 a.m. ET to discuss its first-quarter 2023 operating results.
The press release will be issued at 7:00 a.m. ET on the same day, allowing stakeholders to review the financial performance prior to the call. Interested participants can join the call using dial-in numbers provided in the release, with U.S. callers reaching out at 1-888-440-6240. An audio webcast will also be available on Cogent's website, remaining accessible until May 18, 2023.
Cogent Communications (NASDAQ: CCOI) has announced a quarterly dividend increase of $0.01 per share, bringing the total to $0.925 for Q1 2023. This marks the company's 42nd consecutive quarterly dividend increase and represents an annual increase of 8.2% from Q1 2022. Service revenue for Q4 2022 reached $152.0 million, a 1.3% increase from the previous quarter, with on-net revenue at $114.9 million. Net cash provided by operating activities rose 2.0% to $173.7 million for the year. However, the company continues to face challenges due to the COVID-19 pandemic affecting commercial office demand.
Cogent Communications Holdings, Inc. (NASDAQ: CCOI), a major Internet service provider, announced its CEO, Dave Schaeffer, will present at two key conferences in February and March 2023. The Deutsche Bank 31st Annual Media, Internet & Telecom Conference is set for February 27th at 1:50 p.m. ET in Palm Beach, FL. Following this, Schaeffer will speak at the Raymond James 44th Annual Institutional Investors Conference on March 7th at 7:30 a.m. ET in Orlando, FL. Investors can access live webcasts of the presentations through the Cogent website, available for 90 days post-presentation.
Cogent Communications (CCOI) announced it will host a conference call on February 23, 2023, at 8:30 a.m. ET, to discuss its operating results for the fourth quarter and full year of 2022. The press release detailing these results will be issued at 7:00 a.m. ET on the same day. The call is open for participation, with dial-in numbers provided for both U.S. and international callers. An audio webcast will also be accessible on Cogent's website, remaining available until March 15, 2023. As a facilities-based provider, Cogent services bandwidth-intensive businesses in 219 markets across 51 countries.
Cogent Communications Holdings (NASDAQ: CCOI), a leading Internet service provider, announced a time change for CEO Dave Schaeffer's presentation at the Citi 2023 Communications, Media & Entertainment Conference. The presentation is scheduled for January 4, 2023, at 1:00 p.m. MT in Scottsdale, AZ. Interested parties can access a live audio webcast via the Cogent website, with replays available for 90 days. Cogent offers high-speed Internet and private network services in over 219 markets across 51 countries.
Cogent Communications Holdings, Inc. (NASDAQ: CCOI) announced that CEO Dave Schaeffer will present at the Citi 2023 Communications, Media & Entertainment Conference on January 4th, 2023, at 8:45 a.m. MT in Scottsdale, AZ. Investors can access a live audio webcast of the presentation through the Events section of Cogent's website. A replay will be available for 90 days post-event. Cogent provides high-speed internet services in over 219 markets across 51 countries, focusing on bandwidth-intensive businesses.
Cogent Communications (NASDAQ: CCOI) has announced that CEO Dave Schaeffer will present at three upcoming conferences. The RBC Capital Markets Global Technology Conference is scheduled for November 15 at 1:25 p.m. ET in New York. Schaeffer will also present at the BofA Securities Leveraged Finance Conference on November 29 at 10:50 a.m. ET in Boca Raton, FL, and at the Credit Suisse 26th Annual Technology Conference on November 30 at 10:55 a.m. MT in Scottsdale, AZ. Live audio webcasts will be available on Cogent's website.
Cogent Communications Holdings (NASDAQ: CCOI), a leading Internet service provider, announced that CEO Dave Schaeffer will speak at the 2022 RBC Capital Markets TIMT Conference on November 15 at 1:25 p.m. ET in New York, NY. Investors can access a live audio webcast via Cogent’s website, with a replay available for 90 days post-event. Cogent offers high-speed Internet and private network services in over 219 markets across 51 countries, focusing on bandwidth-intensive businesses. For more details, visit www.cogentco.com.
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