Zayo Group beats analyst expectations on Q4 revenue

BOULDER — Zayo Group Holdings Inc. (NYSE: ZAYO) posted fourth-quarter earnings of 18 cents per share.

The Boulder-based telecom company grew its revenue 3 percent year-over-year to $657.6 million, beating analyst expectations by $1.66 million.

Net income for the quarter was $43.8 million, nearly double what the company made in the fourth quarter of 2017, $23.2 million.

The company’s net income for the year was $101.9 million, up from $85.7 million in 2017. Earnings per share for 2018 were 41 cents, up from 35 cents per share in 2017. Revenue for the year was $2.6 billion, up from $2.2 billion in 2017.

On July 31, Zayo closed on the sale of the Scott-Rice Telephone company for $42 million to Nuvera. Zayo also authorized the repurchase of up to $500 million in common stock. During the year ended June 30, 2018, the company purchased 2.7 million of its outstanding shares for a total of $93.5 million.