Cogent reports Q2 EPS (68c), consensus ($1.27)

Reports Q2 revenue $260.44M, consensus $264.44M. The company said, “Total customer connections decreased by 15.0% from June 30, 2023 to128,782 as of June 30, 2024 and decreased by 3.1% from March 31, 2024. On-net customer connections decreased by 5.9% from June 30, 2023 to 87,387 as of June 30, 2024 and decreased by 0.2% from March 31, 2024. Off-net customer connections decreased by 15.5% from June 30, 2023 to 32,758 as of June 30, 2024 and decreased by 5.3% from March 31, 2024. Wavelength customer connections were 754 as of June 30, 2024, 693 as of March 31, 2024 and 414 as of June 30, 2023. Non-core customer connections were 7,883 as of June 30, 2024, 10,037 as of March 31, 2024 and 19,408 as of June 30, 2023.”