WASHINGTON (AP) — WASHINGTON (AP) — Cogent Communications Group Inc. (CCOI) on Thursday reported fourth-quarter net income of $851,000.
The Washington-based company said it had net income of 2 cents per share. Earnings, adjusted for costs related to mergers and acquisitions, came to 3 cents per share.
The results did not meet Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 18 cents per share.
The internet service provider posted revenue of $152 million in the period, which topped Street forecasts. Seven analysts surveyed by Zacks expected $150.9 million.
For the year, the company reported profit of $5.1 million, or 11 cents per share. Revenue was reported as $599.6 million.
Cogent shares have increased 15% since the beginning of the year.
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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