Cogent corrects Q2 EBITDA adjusted to $54.1M; reports $1.2B Sprint gain, dividend raised to $0.945

COGENT COMMUNICATIONS HOLDINGS, INC.

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

Correction: Q2 2023 EBITDA as adjusted for Sprint costs and IP Transit payments is $54.1M, not $56.0M as originally reported.
Revenue $239.8M up 56.1% QoQ; $78.0M from Sprint wireline business acquired May 1, 2023.
Basic EPS $23.84 includes $1.2B bargain purchase gain from Sprint acquisition.
Regular quarterly dividend increased to $0.945/share (up 1.1% QoQ), payable Sept 8 to holders of record Aug 24.
Net cash from ops $82.7M, up 130.7% QoQ; on-net connections up 12.8% YoY.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

COGENT COMMUNICATIONS HOLDINGS, INC. reported Q2 2023 results: revenue $239.8 million, EPS $23.84 basic and $23.65 fully diluted.

Period: Q2 2023
Revenue: $239.8 million
EPS: $23.84 basic and $23.65 fully diluted
Result: reported results

Exact text from the filing

Cogent Communications Holdings, Inc. (NASDAQ: CCOI) (“Cogent”) today announced service revenue of $239.8 million for the three months ended June 30, 2023, an increase of 56.1% from the three months ended March 31, 2023 and an increase of 61.5% from the three months ended June 30, 2022.

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Source: SEC EDGAR

accession 0001104659-23-089811

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