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Cogent Communications Holdings, Inc. - CCOI STOCK NEWS

Welcome to our dedicated page for Cogent Communications Holdings news (Ticker: CCOI), a resource for investors and traders seeking the latest updates and insights on Cogent Communications Holdings stock.

Cogent Communications Holdings, Inc. (NASDAQ: CCOI) stands as one of the world's premier Internet Service Providers (ISPs), delivering high-quality internet, Ethernet, and colocation services. Serving over 61,820 enterprise and net-centric customer connections, Cogent reaches more than 198 markets across 41 countries via its facility-based, all-optical IP network. The company is a significant player in global internet traffic, carrying more than one-fifth of the world's internet over its expansive network.

Cogent provides two main types of services to its corporate clients: dedicated internet access and virtual private networking. The former connects businesses directly to the internet, while the latter offers secure internal network connections for employees across different locations. These corporate services primarily cater to North American clients located in high-rise office buildings, contributing over half of Cogent's revenue.

Additionally, Cogent serves net-centric customers, which include other ISPs and content providers. These customers rely on Cogent for internet transit, seamlessly delivering traffic handed off in data centers. Approximately 50% of the net-centric revenue comes from customers outside the United States.

Cogent continues to expand its offerings, notably through the acquisition of Sprint's Wireline Business, enhancing its portfolio with optical wavelength services and optical transport services. These services are now being marketed to existing and new clients, including prior Sprint customers, targeting those who require high-bandwidth optical transport without the overhead of maintaining network infrastructure.

Cogent's financial health is reinforced by robust service revenues, which reached $275.4 million for Q3 2023, marking a 14.9% increase from Q2 2023 and an 83.6% rise year-over-year. Despite challenges presented by foreign exchange rates and a fluctuating economic landscape, Cogent has shown resilience with strong on-net and off-net revenue growth.

The company has also maintained a steady dividend growth, with the latest quarterly dividend increase to $0.975 per share approved in May 2024, reflecting confidence in sustained financial performance.

Despite the residual impacts of the COVID-19 pandemic on corporate office occupancy, Cogent has adapted by supporting remote working applications and higher-capacity internet access upgrades. These efforts are crucial as it braces for potentially increased corporate turnover and fewer new tenant opportunities.

Cogent invites investors and stakeholders to join its quarterly earnings calls to stay updated on financial results and strategic developments. For more details, visit www.cogentco.com.

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Cogent Communications Holdings, Inc. (NASDAQ: CCOI) has announced it will host a conference call on August 8, 2024, at 8:30 a.m. ET to present its second quarter 2024 operating results. The company will issue a press release with the results at 7:00 a.m. ET on the same day. Investors and interested parties can access the call via phone or internet. The dial-in numbers are 1-888-596-4144 for U.S. and Canadian callers, and 1-646-968-2525 for international callers, using Conference ID 6641307. An audio webcast will be available on Cogent's website under the 'Events' section and will remain accessible until August 22, 2024. Cogent recommends callers dial in 15 minutes before the start of the call.

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Cogent Communications announced a $300 million offering of 7.000% senior notes due 2027. These notes will be sold to qualified institutional buyers under Rule 144A and non-U.S. persons under Regulation S. Proceeds will be used to prepay an existing $125 million agreement and for general corporate purposes, including potential dividends. The new notes are similar to existing 7.00% senior notes but will not be fungible with them. There is no assurance of the notes' sale completion.

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Cogent Communications reported service revenue of $266.2 million for Q1 2024, a decrease of 2.2% from Q4 2023. The company increased its regular quarterly dividend by $0.01 per share to $0.975 per share for Q2 2024, marking the forty-seventh consecutive quarterly dividend increase.

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Cogent Communications Holdings, Inc. (NASDAQ: CCOI) announced that their CEO, Dave Schaeffer, will be presenting at three upcoming conferences in May 2024. This includes the 2024 MoffettNathanson Media & Communications Conference, the J.P. Morgan Global Technology, Media and Communications Conference, and the TD Cowen Technology, Media & Telcom Conference. Investors can access live audio webcasts of the presentations on Cogent's website.

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Cogent Communications Holdings, Inc. announced the pricing of $206 million in secured IPv4 address revenue term notes by a subsidiary, with a repayment term of five years. The offering will be used for general corporate purposes, subject to closing conditions. The Notes are being offered to qualified institutional buyers in the U.S. and non-U.S. persons in compliance with regulations.
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Cogent Communications Holdings, Inc. will host an earnings call on May 9, 2024, to present its first-quarter 2024 operating results. The call will be open to all parties, with a press release announcing the results at 7:00 a.m. (ET) on the same day. Participants can access the call via dial-in numbers or an audio webcast on Cogent's website.
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Cogent Communications Holdings, Inc. (NASDAQ: CCOI) reported financial highlights for Q4 2023, including a gain on bargain purchase of $254.0 million, basic and fully diluted earnings per share of $4.23 and $4.17, respectively, and service revenue of $272.1 million. The company approved an increase in its quarterly dividend to $0.965 per share for Q1 2024.
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Cogent Communications Holdings, Inc. (CCOI) announced that its CEO, Dave Schaeffer, will present at the 2024 Raymond James Institutional Investor Conference. The conference will take place at the JW Marriott Grande Lakes in Orlando, FL, on March 4th at 4:00 p.m. ET. Interested parties can access a live webcast on Cogent's website.
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Cogent Communications Holdings, Inc. will host a conference call to present its operating results for the fourth quarter and full year of 2023 on February 29, 2024. The call will be open to all parties and can be accessed via phone or internet. The company will issue a press release announcing the operating results at 7:00 a.m. (ET) on the same day.
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Cogent Communications Holdings, Inc. (NASDAQ: CCOI) announces CEO Dave Schaeffer's participation in the 2023 UBS Global TMT Conference and the 2023 Raymond James TMT and Consumer Conference in New York. Schaeffer will present on December 4th and 5th, respectively, with live webcasts available on Cogent's website.
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FAQ

What services does Cogent Communications provide?

Cogent Communications offers high-quality internet, Ethernet, and colocation services to enterprise and net-centric customers.

How many markets does Cogent serve?

Cogent serves over 198 markets in 41 countries.

What types of customers does Cogent cater to?

Cogent caters to corporate customers in North America, including high-rise office buildings, and net-centric customers such as other ISPs and content providers.

What is the significance of the Sprint acquisition for Cogent?

The Sprint acquisition has allowed Cogent to expand its service offerings to include optical wavelength services and optical transport services.

How has Cogent's service revenue performed recently?

Service revenue was $275.4 million for Q3 2023, a 14.9% increase from Q2 2023 and an 83.6% increase from Q3 2022.

What is Cogent's approach to the residual impact of COVID-19?

Cogent has adapted by supporting remote work applications and higher-capacity internet upgrades, despite ongoing challenges in corporate office occupancy.

What types of connections does Cogent provide to corporate customers?

Cogent offers dedicated internet access and virtual private networking to corporate customers.

Where is Cogent Communications headquartered?

Cogent Communications is headquartered at 2450 N Street, NW, Washington, D.C. 20037.

How does Cogent's on-net service differ from off-net service?

On-net service is provided to customers in buildings connected by Cogent's own facilities, while off-net service uses other carriers' facilities for the last mile connection.

What is Cogent's dividend policy?

Cogent regularly reviews and increases its quarterly dividends, with the most recent increase to $0.975 per share approved in May 2024.

Cogent Communications Holdings, Inc.

Nasdaq:CCOI

CCOI Rankings

CCOI Stock Data

3.23B
49.02M
10.35%
94.07%
8.98%
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