Boulder-based Zayo Group reports $53.7 million loss as revenue climbs
BOULDER – The share price for broadband infrastructure provider Zayo Group Holdings Inc. (NYSE: ZAYO) was down 6 percent in afternoon trading Wednesday after the company reported a net loss of $53.7 million for its third fiscal quarter ending March 31.
The rapidly growing Boulder-based company’s loss amounted to 22 cents per share compared to a loss of 18 cents per share, or $41.6 million, for the same period a year ago.
Revenue, meanwhile, climbed to $340.7 million, up sharply from $281.4 million a year ago as the company continued to expand its footprint through growth and several acquisitions.
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Zayo shares were trading at $26.32, down $1.71 from Tuesday’s close.
Zayo, which became a publicly traded company in October, closed a pair of acquisitions in the third quarter, including the $677.5 million purchase of Latisys Holdings LLC that expanded the company’s footprint in the Northern Virginia, Chicago, Denver, London and Southern California markets.
BOULDER – The share price for broadband infrastructure provider Zayo Group Holdings Inc. (NYSE: ZAYO) was down 6 percent in afternoon trading Wednesday after the company reported a net loss of $53.7 million for its third fiscal quarter ending March 31.
The rapidly growing Boulder-based company’s loss amounted to 22 cents per share compared to a loss of 18 cents per share, or $41.6 million, for the same period a year ago.
Revenue, meanwhile, climbed to $340.7 million, up sharply from $281.4 million a year ago as the company continued to expand its footprint through growth and several acquisitions.
Zayo…
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