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Compared to Estimates, Cogent (CCOI) Q2 Earnings: A Look at Key Metrics

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Cogent Communications (CCOI - Free Report) reported $239.81 million in revenue for the quarter ended June 2023, representing a year-over-year increase of 61.5%. EPS of -$0.13 for the same period compares to $0.24 a year ago.

The reported revenue compares to the Zacks Consensus Estimate of $259.8 million, representing a surprise of -7.69%. The company delivered an EPS surprise of -316.67%, with the consensus EPS estimate being $0.06.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

Here is how Cogent performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

  • Total On-Net buildings: 3227 versus the four-analyst average estimate of 3220.
  • Customer Connections - On-net: 92846 compared to the 84298.44 average estimate based on three analysts.
  • ARPU - Off-Net: $1,294 versus $899.04 estimated by three analysts on average.
  • Customer Connections - Total: 151430 versus the three-analyst average estimate of 98661.4.
  • Customer Connections - Off-net: 38762 versus the three-analyst average estimate of 13988.9.
  • Geographic Revenue- North America: $205.18 million versus $164.76 million estimated by two analysts on average.
  • Geographic Revenue- Africa: $0.20 million compared to the $0.30 million average estimate based on two analysts.
  • Geographic Revenue- Europe: $27.21 million versus $33.53 million estimated by two analysts on average.
  • Geographic Revenue- South America: $1.86 million compared to the $2.11 million average estimate based on two analysts.
  • Geographic Revenue- Oceania: $5.36 million versus $5.36 million estimated by two analysts on average.
  • Revenue- Service revenue- Off-Net revenue: $101.98 million compared to the $37.39 million average estimate based on five analysts. The reported number represents a change of +181.1% year over year.
  • Revenue- Service revenue- On-Net revenue: $127.67 million versus $116.39 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +14% change.
View all Key Company Metrics for Cogent here>>>

Shares of Cogent have returned -10.1% over the past month versus the Zacks S&P 500 composite's +1.7% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.

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