Good News Is Below the Surface of CyrusOne's Disappointing 1Q Headline Results
CyrusOne missed consensus first-quarter revenue and EBITDA estimates, but we don't see those as the most important pieces of information coming from this quarter's report. The firm bounced back with improved bookings after a disappointing fourth quarter, is gaining traction in its nascent European business, and disclosed it won't have to issue any more equity in 2019. Without a network colocation-focused business model like some other data center firms, we still don't think Cyrus has a moat, but...CyrusOne is a self-managed data center real estate investment trust that owns, operates and develops enterprise-class, carrier-neutral, multi-tenant and single-tenant data center properties. Data centers are real estate assets that serve as centralized repositories of server, storage and network equipment. They are designed to provide the space, power, cooling and network connectivity necessary to operate information technology equipment. The company provides data center facilities that protect and ensure the continued operation of information technology infrastructure for customers in data centers and recovery centers in markets including in the U.S., London, U.K., Singapore and Frankfurt, Germany.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
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