Cogent Q2 2023: revenue up 56% QoQ; $1.2B bargain purchase gain; EPS $23.84; dividend raised to $0.945

COGENT COMMUNICATIONS HOLDINGS, INC.

2023-Q2 EPS reported $23.79 revenue$393,395,000

Service revenue $239.8M, up 56.1% QoQ and 61.5% YoY, including $78M from acquired Sprint Wireline Business.
Gain on bargain purchase from Sprint acquisition of $1.2B; includes $620.4M discounted value of $700M IP Transit Agreement with T-Mobile.
Basic EPS $23.84, diluted $23.65; net income reflects the $1.2B gain.
Regular quarterly dividend increased to $0.945/share, payable Sept 8, 2023; 44th consecutive quarterly increase.
EBITDA as adjusted $54.1M (22.5% margin), adding back $29.2M cash from IP Transit agreement and excluding $0.7M acquisition costs.

item 2.02 item 9.01

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

COGENT COMMUNICATIONS HOLDINGS, INC. reported second quarter 2023 results: revenue $239.8 million, EPS $23.84 per basic share.

Period: second quarter 2023
Revenue: $239.8 million
EPS: $23.84 per basic share
Result: reported results

Exact text from the filing

Service revenue increased from Q1 2023 to Q2 2023 by 56.1% to $239.8 million

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Source: SEC EDGAR

accession 0001104659-23-089550

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