Lots of earnings news from around the sector, here is a quick look at three of them from the competitive side of things:
GTT posted revenue of $326.8M for the second quarter, upon which they generated adjusted EBITDA of $74.9M. The numbers are a bit hard to interpret due to the inclusion of two months of numbers from the Interoute deal. The loss per share of $136.3M included $13.7M in transaction and integration costs, $13.8M in debt extinguishment, and $88.6M from a foreign currency hedge related to the Interoute deal. Lots of moving parts there, but according to the company there was a pro forma core of revenue and EBITDA growth of 1.2% and 0.7%, respectively, over the same period last year. I'll let the pros pretend they know what it all means and wait for next quarter when things start to settle down.
Cogent Communications posted revenue of $129.3M and adjusted EBITDA of 46.3M during the second quarter. Those numbers came in a bit weaker than analysts were expecting, with the company's net centric business not quite holding up its end of the bargin this quarter. Nevertheless, Cogent increased its regular quarterly dividend another two pennies to $0.54 per share. The company added another 58 on-net buildings to its footprint during the quarter, 38 of which were multi-tenant office buildings and 21 being carrier-neutral data centers. That's faster than their normal rate, bringing the total on-net footprint total to 2,599. Capex was $12M.
And a couple days ago Vonage posted revenue of $260M, up 3% over the same period last year, with $148M coming from its Business division. The company continues to balance declines in its consumer business with advances from the business segment. Adjusted OIBDA was $45M, with adjusted net income of $0.07 per share, inline with estimates. Vonage acquired TokBox earlier this week as well, and adjusted its projections for 2018 up to $1040-1050 in revenue and down to about $185M in adjusted OIBDA due to the integration as well as a shift of some expenses from capex to opex.