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.
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.