Cogent Communications Reports First Quarter 2024 Results and Increases its Regular Quarterly Dividend on its Common Stock
Financial and Business Highlights
WASHINGTON, May 9, 2024 /PRNewswire/ — Cogent Communications Holdings, Inc. (NASDAQ: CCOI) (“Cogent”) today announced service revenue of $266.2 million for the three months ended March 31, 2024, a decrease of 2.2% from the three months ended December 31, 2023 and an increase of 73.3% from the three months ended March 31, 2023. Foreign exchange rates positively impacted service revenue growth from the three months ended December 31, 2023 to the three months ended March 31, 2024 by $0.3 million and positively impacted service revenue growth from the three months ended March 31, 2023 to the three months ended March 31, 2024 by $0.4 million. On a constant currency basis, service revenue decreased by 2.3% from the three months ended December 31, 2023 to the three months ended March 31, 2024, and increased by 73.1% for the three months ended March 31, 2023 to the three months ended March 31, 2024.