WASHINGTON (AP) — WASHINGTON (AP) — Cogent Communications Group Inc. (CCOI) on Thursday reported a fourth-quarter loss of $43.3 million, after reporting a profit in the same period a year earlier.
The Washington-based company said it had a loss of 91 cents per share.
The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of $1.22 per share.
The internet service provider posted revenue of $252.3 million in the period, missing Street forecasts. Three analysts surveyed by Zacks expected $257.1 million.
For the year, the company reported a loss of $204.1 million, or $4.28 per share, swinging to a loss in the period. Revenue was reported as $1.04 billion.
Cogent shares have increased almost 4% since the beginning of the year.
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