By Will Feuer
Cogent Communications reported higher service revenue for the second quarter after closing on its deal to purchase Sprint’s wireline assets from T-Mobile.
The company posted a profit of $1.12 billion, or $23.65 a share, up from $11.2 million, or 24 cents a share, in the same period last year. The results included a $1.2 billion gain on bargain purchase from the acquisition of Sprint’s wireline business from T-Mobile.
Service revenue climbed almost 62% to $239.8 million. Analysts surveyed by FactSet expected revenue of $262.4 million.
Total customer connections increased by 58.1% to 151,430 as of the end of the quarter.
Write to Will Feuer at [email protected]
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