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 (CCOI) announced a $0.01 increase in its quarterly dividend, raising it to $0.915 per share for Q4 2022, reflecting a 10.2% annual increase. Service revenue reached $150 million, a 1.0% increase from Q2 2022 and 1.4% from Q3 2021. Net cash from operating activities surged 55.7% to $53.6 million. However, EBITDA margin decreased to 38.6%.
Despite the challenges posed by COVID-19, total customer connections rose 3.6% year-over-year, now totaling 96,321.
Cogent Communications Holdings (NASDAQ: CCOI) has announced a conference call scheduled for November 3, 2022, at 8:30 a.m. ET to discuss its third quarter 2022 operating results. A press release detailing these results will be issued at 7:00 a.m. ET on the same day. Participants can join the call via a dial-in number or through an internet audio webcast available on Cogent's website. The company, a provider of high-speed Internet services in 219 markets across 51 countries, encourages callers to connect 15 minutes early.
Cogent Communications Holdings (NASDAQ: CCOI) announced a time change for Dave Schaeffer's presentation at the Deutsche Bank 30th Annual Leveraged Finance Conference in Scottsdale, AZ. The new presentation time is set for Tuesday, September 20th at 2:15 PM MDT. Investors can access a live audio webcast of the event via Cogent's website, with a replay available for 90 days post-presentation. Cogent is a leading provider of high-speed Internet services across 219 markets in 51 countries.
Cogent Communications (NASDAQ: CCOI) has agreed to acquire T-Mobile's Wireline Business, enhancing its network capabilities and customer base. The acquisition includes the Sprint U.S. long-haul network, allowing Cogent to replace its leased network with owned assets. T-Mobile will pay Cogent $700 million for IP transit services over 54 months, with $350 million due in the first year. The deal, expected to close in H2 2023, won't dilute existing shareholders, and Cogent plans to maintain its dividend. This strategic move aims to expand Cogent's product offerings and customer migrations.
Cogent Communications (NASDAQ: CCOI) will see its CEO, Dave Schaeffer, present at two major conferences. He will appear at the Deutsche Bank 2022 Technology Conference on September 1 at 1:15 p.m. PT in Las Vegas, NV, followed by the Bank of America 2022 Media, Communications and Entertainment Conference on September 7 at 2:50 p.m. PT in Beverly Hills, CA. Live webcasts can be accessed on Cogent's website, with replays available for 90 days.
Cogent Communications Holdings (CCOI) has approved a quarterly dividend increase to $0.905 per share for Q3 2022, marking its fortieth consecutive quarterly dividend increase. This represents a 12.4% annual rise compared to Q3 2021. For Q2 2022, service revenue stood at $148.5 million, a 0.5% decrease from Q1 2022. EBITDA increased by 2.3% to $58.5 million, while net cash from operating activities decreased by 13.4% year-over-year. Cogent continues to face uncertainties due to COVID-19, impacting operations and customer connections.
Cogent Communications Holdings (NASDAQ: CCOI) announced that CEO Dave Schaeffer will present at two key conferences: the KeyBanc Technology Leadership Forum on August 8th at 10:30 a.m. MT in Vail, CO, and the Oppenheimer 25th Annual Technology, Internet & Communications Conference on August 10th at 11:35 a.m. ET, virtually. Interested parties can access live audio webcasts on Cogent's website, with replays available for 90 days post-presentation. Cogent provides high-speed Internet and private network services across 216 markets globally.
Cogent Communications Holdings, Inc. (NASDAQ: CCOI) will host a conference call on August 4, 2022, at 4:30 p.m. ET, to discuss its Q2 2022 operating results. A press release with these results will be available at 4:00 p.m. ET on the same day. The call is open to all interested parties, and registration is required for phone participants. An audio webcast of the call will be accessible on Cogent's website until August 18, 2022. Cogent is known for providing cost-effective, high-speed Internet and private network services across 216 markets in 50 countries.
Cogent Communications Holdings, Inc. (NASDAQ: CCOI) announced that CEO Dave Schaeffer will present at the Credit Suisse 24th Annual Communications Conference on June 14th at 10:05 a.m. ET. The event will be held virtually, and interested parties can access a live audio webcast via the Cogent website. A replay will be available for 90 days post-event. Cogent is a leading provider of high-speed Internet and private network services, operating in over 216 markets across 50 countries.
Cogent Communications Holdings, Inc. (NASDAQ: CCOI) announced a forthcoming offering of $450 million in senior notes due 2027, aimed at qualified institutional buyers. The offering will enable Cogent to redeem €350 million of existing unsecured notes due 2024. The company plans to use any remaining proceeds for corporate purposes or dividends. The notes will not be registered under the Securities Act, and there is no guarantee that the offering will be completed or that the existing notes will be redeemed.
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