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Cogent's Q1: Sprint Losses, Data Center Sales, and Debt Paydown
Description
Cogent Communications Q1 results missed estimates, with revenue down 3.2% and adjusted EBITDA significantly short of forecast. Losses from Sprint wireline customers weighed heavily, but the core on-net business held steady. Shares plummeted, and the companys market cap now stands at around $795 million. Analysts questioned organic growth prospects, and data center sales from the Sprint deal are under scrutiny. Future focus areas include data center closings, on-net revenue, easing equipment costs, and deleveraging.
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