Zayo Posted in Line Topline Growth but Weaker Profitability Results and Guidance; Raising FVE to $21
Zayo Group’s first-quarter results for fiscal 2018 slightly exceeded our topline growth projections, but profitability was weaker than we expected. Total revenue was $644 million in the quarter, up 1% from last quarter, versus our projection of 0.2%, where the all-important communication infrastructure group (80% of total sales) grew 1% quarter to quarter, same as our projections. However, the firm posted adjusted EBITDA margin of 49%, versus our projection of 52%, on weaker profitability in the...Zayo Group Holdings is a holding company. Through its subsidiaries, the company is a provider of communications and bandwidth infrastructure in the United States, Canada and Europe. The company has four segments: Zayo Networks, which provides access to bandwidth infrastructure; Zayo Colocation, which provides data center and cloud infrastructure solutions to a range of enterprise, carrier, cloud and content customers; Allstream, which provides Cloud VoIP and Data Solutions; and Other, which is comprised of Zayo Professional Services that provides network and technical resources to customers. Key products include leased dark fiber, fiber to cellular towers and small cell sites and other bandwidth offering.
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