Cogent closes Sprint wireline acquisition; Q1 revenue $153.6M, dividend raised to $0.935

COGENT COMMUNICATIONS HOLDINGS, INC.

Acquisition of Sprint Wireline closed May 1; net payment of $61.1M to seller after working capital adjustment.
T-Mobile to pay $700M over 5 years for IP transit services; transition services cost Cogent ~$1.7M monthly.
Q1 service revenue $153.6M (+3% YoY); net income per share $0.13; EBITDA margin 36.5%.
Regular quarterly dividend increased to $0.935 per share, 43rd consecutive quarterly increase.
On-net connections 83,268 (+0.8% QoQ); on-net buildings 3,190 (+35 QoQ).

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

COGENT COMMUNICATIONS HOLDINGS, INC. reported the three months ended March 31, 2023 results: revenue $153.6 million, EPS $0.13.

Period: the three months ended March 31, 2023
Revenue: $153.6 million
EPS: $0.13
Result: reported results

Exact text from the filing

[WASHINGTON, D.C. May 4, 2023] Cogent Communications Holdings, Inc. (NASDAQ: CCOI) (“Cogent”) today announced service revenue of $153.6 million for the three months ended March 31, 2023, an increase of 1.1% from the three months ended December 31, 2022 and an increase of 3.0% from the three months ended March 31, 2022. Foreign exchange rates positively impacted service revenue growth from the three months ended December 31, 2022 to the three months ended March 31, 2023 by $1.3 million and negatively impacted service revenue growth from the three months ended March 31, 2022 to the three months ended March 31, 2023 by $1.6 million. On a constant currency basis, service revenue increased by 0.2% from the three months ended December 31, 2022 to the three months ended March 31, 2023 and increased by 4.0% for the three months ended March 31, 2022 to the three months ended March 31, 2023. On-net service is provided to customers located in buildings that are physically connected to Cogent’s ne

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Source: SEC EDGAR

accession 0001104659-23-055777

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