WASHINGTON (AP) — WASHINGTON (AP) — Cogent Communications Group Inc. (CCOI) on Thursday reported a first-quarter loss of $65.3 million, after reporting a profit in the same period a year earlier.
The Washington-based company said it had a loss of $1.38 per share. Losses, adjusted for non-recurring costs, were $1.29 per share.
The results did not meet Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of $1.10 per share.
The internet service provider posted revenue of $266.2 million in the period, which also missed Street forecasts. Four analysts surveyed by Zacks expected $274.1 million.
Cogent shares have decreased 17% since the beginning of the year.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CCOI at https://www.zacks.com/ap/CCOI
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