Cogent Communications Holdings, Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023
February 29, 2024 at 07:08 am EST
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Cogent Communications Holdings, Inc. reported earnings results for the fourth quarter and full year ended December 31, 2023. For the fourth quarter, the company reported net income was USD 200.15 million compared to USD 0.851 million a year ago. Basic earnings per share from continuing operations was USD 4.23 compared to USD 0.02 a year ago. Diluted earnings per share from continuing operations was USD 4.17 compared to USD 0.02 a year ago.
For the full year, net income was USD 1,273.44 million compared to USD 5.15 million a year ago. Basic earnings per share from continuing operations was USD 26.88 compared to USD 0.11 a year ago. Diluted earnings per share from continuing operations was USD 26.62 compared to USD 0.11 a year ago.
Cogent Communications Holdings, Inc. is a facilities-based provider of Internet access, private network services and data center colocation space and power. The Companyâs network is specifically designed and optimized to transmit packet routed data. The Company, through its own facilities, offers on-net Internet access services to customers located in buildings that are physically connected to its network. Its on-net service consists of high-speed Internet access and private network services offered at speeds ranging from megabits per second (Mbps) to gigabits per second (Gbps). The Company delivers its services on its network in 54 countries across North America, Europe, Asia, South America, Oceania and Africa. Its corporate customers are located in multi-tenant office buildings (MTOBs), which typically include law firms, financial services firms, advertising and marketing firms, as well as health care providers, educational institutions and other professional services businesses.