BOULDER — Zayo Group Holdings Inc. (NYSE: ZAYO) beat analyst expectations by 2 cents when it posted third-quarter earnings of 11 cents per share, an increase from the company’s loss of 8 cents per share during the same period in 2016.
Although revenue also grew — from $478 million in the third quarter 2016 to $550 million in 2017 — the Boulder-based company still missed analyst expectations by about $5 million.
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Net income was $27 million, a 36 percent jump from Q3 2016, and operating income remained stable year-over-year at $90.7 million.
In March, Zayo announced it acquired Electric Lightwave Parent Inc., which includes and 8,100 miles of long-haul fiber and 4,000 miles of dense metro fiber in Denver, Minneapolis, Portland, Seattle, San Francisco and other West Coast cities. The purchase was for $1.4 billion, according to its financial statements.
In addition to releasing its quarterly earnings, Zay also announced a new president of sales. Edward Morche will oversee Zayo’s sales organization and will report directly to chief operating officer Andrew Crouch.
BOULDER — Zayo Group Holdings Inc. (NYSE: ZAYO) beat analyst expectations by 2 cents when it posted third-quarter earnings of 11 cents per share, an increase from the company’s loss of 8 cents per share during the same period in 2016.
Although revenue also grew — from $478 million in the third quarter 2016 to $550 million in 2017 — the Boulder-based company still missed analyst expectations by about $5 million.
Sponsored Content
Demystifying Your Balance Sheet - For Business Owners
Tap into your company’s potential by taking some of the mystery out of your balance sheet. At Elevations Credit Union, helping our business members optimize their financial performance is exactly what we do.
Net income was $27 million, a 36 percent jump from Q3 2016, and operating income remained stable year-over-year at $90.7 million.
In March, Zayo announced it acquired Electric Lightwave Parent Inc., which includes and 8,100 miles of long-haul fiber and 4,000 miles of dense metro fiber in Denver, Minneapolis, Portland, Seattle, San Francisco and other West Coast cities. The purchase was for $1.4 billion, according to its financial statements.
In addition to releasing its quarterly earnings, Zay also announced a new president of sales. Edward Morche will oversee Zayo’s sales organization and will report directly to chief operating officer Andrew Crouch.
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