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 (NASDAQ: CCOI) announced that CEO Dave Schaeffer and CFO Sean Wallace will present at the Eighth Annual MoffettNathanson Media & Communications Summit on May 12, 2021, at 3:00 p.m. ET. The event will be held virtually, and interested parties can access a live audio webcast via Cogent's website. Replays will be available for 90 days post-presentation. Cogent is a leading provider of low-cost, high-speed Internet access and services across 210 markets in 48 countries.
Cogent Communications Holdings (NASDAQ: CCOI) announced a $500 million offering of senior secured notes due 2026, intended for qualified institutional buyers. Proceeds will be primarily used to redeem $284.1 million of existing secured notes due 2022, with a redemption date set for December 1, 2021. The notes will be guaranteed by Cogent's material domestic subsidiaries and intended for strategic financial management, including potential dividends. There’s no assurance that the offering will conclude or that existing notes will be redeemed.
Cogent Communications has declared a quarterly dividend increase to $0.780 per share, marking a 3.3% rise from Q1 2021 and a 14.7% annual increase from Q2 2020. Total service revenue for Q1 2021 reached $146.8 million, up 2.0% from Q4 2020. GAAP gross profit rose by 3.4% year-over-year, totaling $67.7 million. Despite a 90 basis point decrease in EBITDA margin to 37.8%, net income increased significantly to $18.9 million. The dividend is payable on May 28, 2021, to shareholders of record on May 14, 2021.
Cogent Communications (NASDAQ: CCOI) announced the schedule for its Q1 2021 operating results. The press release will be issued on April 28, 2021 at 5:20 p.m. ET, followed by a conference call on April 29, 2021, at 8:30 a.m. ET. Callers can join via a dedicated number or web access. Cogent is a provider of low cost, high speed Internet and private network services across 210 markets in 48 countries. Forward-looking statements in the release highlight potential risks and uncertainties regarding future performance.
Cogent Communications Holdings (NASDAQ: CCOI) will host a conference call on April 29, 2021, at 8:30 a.m. ET, to discuss its first-quarter operating results. A press release with the results will be issued at 7:00 a.m. ET on the same day. The call is open to all participants and can be accessed via a U.S. dial-in number (1-800-668-4132) or an international number (1-224-357-2196). An audio webcast will also be available on Cogent's website and will remain up until May 19, 2021.
Cogent Communications Holdings (NASDAQ: CCOI) announced that CEO Dave Schaeffer and CFO Sean Wallace will present in two upcoming virtual conferences. The first is the Deutsche Bank 29th Annual Media, Internet & Telecom Conference on March 8, 2021 at 11:00 a.m. ET. The second is the 2021 Truist Securities Technology, Internet & Services Conference on March 9, 2021 at 3:30 p.m. ET. Interested parties can access live audio webcasts on Cogent's website, with replays available for 90 days. Cogent provides low-cost, high-speed Internet access across 47 countries.
Cogent Communications (NASDAQ: CCOI) has announced a quarterly dividend increase to $0.755 per share for Q1 2021, marking its thirty-fourth consecutive rise. This represents a 3.4% increase from Q4 2020 and a 14.4% annual increase from Q1 2020. For the full year 2020, service revenue was $568.1 million, a 4.0% increase year-over-year. GAAP gross profit for Q4 2020 was $66.6 million, up 3.6% from Q4 2019. However, net cash provided by operations decreased from $148.8 million in 2019 to $140.3 million in 2020, indicating potential cash flow concerns amidst ongoing challenges from the COVID-19 pandemic.
Cogent Communications (NASDAQ: CCOI) announced that its CEO, Dave Schaeffer, and CFO, Sean Wallace, will present at two upcoming virtual conferences. The KeyBanc 16th Annual Emerging Technology Summit is scheduled for February 23, 2021, at 3:25 p.m. ET, while the Raymond James 42nd Annual Institutional Investors Conference will take place on March 2, 2021, at 4:40 p.m. ET. Interested parties can access live audio webcasts on Cogent's website, with replays available for 90 days.
Cogent Communications (NASDAQ: CCOI) is set to host a conference call on February 25, 2021, at 8:30 a.m. ET to discuss its operating results for Q4 and full year 2020. A press release detailing these results will be issued earlier that day at 7:00 a.m. ET. The conference call is accessible via a dedicated U.S. dial-in number and an international dial-in option. An audio webcast will also be available on Cogent's website and will remain accessible until March 17, 2021. This call invites participation from interested parties.
Cogent Communications (NASDAQ: CCOI) announced that CEO Dave Schaeffer and CFO Sean Wallace will participate in the Citi 2020 Global TMT West Virtual Conference on January 5, 2021, at 3:00 p.m. ET. Investors can access a live audio webcast of the presentation from Cogent's website, with a replay available for 90 days. Cogent is a leading provider of low-cost, high-speed Internet access, operating in over 207 markets across 47 countries. For more information, visit www.cogentco.com.
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