Cogent(US:CCOI) ZACKSยท2024-08-08 18:31Core Insights - Cogent Communications reported revenue of $260.44 million for Q2 2024, an 8.6% year-over-year increase, but missed the Zacks Consensus Estimate of $264.69 million by 1.61% [1] - The company posted an EPS of -$0.75, a decline from -$0.13 a year ago, but exceeded the consensus EPS estimate of -$1.31 by 42.75% [1] Revenue Metrics - Customer Connections - Off-net: 32,758, below the average estimate of 36,827 [3] - Customer Connections - Non-Core: 7,883, below the average estimate of 10,161 [4] - Customer Connections - On-net: 87,387, below the average estimate of 93,298 [5] - Customer Connections - Total: 128,782, below the average estimate of 140,286 [6] Geographic Revenue Breakdown - North America: $224.19 million, compared to the estimate of $227.61 million, reflecting a 9.3% year-over-year increase [7] - Africa: $0.16 million, below the estimate of $0.18 million, representing a 19.3% year-over-year decline [8] - Europe: $28.47 million, slightly above the estimate of $28.46 million, with a 4.6% year-over-year increase [9] - South America: $1.96 million, below the estimate of $1.99 million, showing a 5.6% year-over-year increase [10] Revenue Segmentation - Corporate Revenue: $119.56 million, below the average estimate of $123.30 million [11] - Revenue - Enterprise: $49.78 million, above the average estimate of $49.04 million [12] - Net-Centric Revenue: $91.11 million, slightly below the estimate of $92.26 million [13] - Revenue - Service Revenue - Non-Core: $4.61 million, below the average estimate of $5.69 million [14] Stock Performance - Cogent's shares have returned +14.7% over the past month, contrasting with the Zacks S&P 500 composite's -6.5% change [14]