Cogent Communications’ Review Following 10% Drop Since Q1
<p><a href='https://financialmodelingprep.com/financial-summary/CCOI'>Cogent Communications (NASDAQ:CCOI)</a> shares fell more than 10% since the company reported Q1/23 earnings earlier this month. Revenues came in at $116.1 million, compared to the Street estimate of $116.6 million and adjusted EBITDA of $56.5 million, compared to the Street estimate of $58.2 million.</p>
<p>On-net ARPU (average revenue per user) increased 0.6% quarter-over-quarter to $467 and Off-net ARPU declined to 0.5% quarter-over-quarter to $910. Churn rates for On-net and Off-net connections were relatively stable quarter-over-quarter at 1.0% each.</p>
<p>The acquisition of the Sprint wireline business closed on May 1, earlier than management’s expectations. RBC Capital analysts said they are cautiously optimistic, based on the potential for cost savings and revenue synergies, and earlier track record of integration. </p>

NASDAQ:CCOI