Switch, Inc. (SWCH) Misses Q2 EPS by 2c, Revenues Miss; Lowers FY18 Revenue Outlook

Switch, Inc. (NYSE: SWCH) reported Q2 EPS of $0.02, $0.02 worse than the analyst estimate of $0.04. Revenue for the quarter came in at $102.16 million versus the consensus estimate of $102.76 million.

"Switch has introduced a one of a kind holistic hybrid cloud solution that for the first time allows companies to move larger and more mission critical technology environments to our differentiated cloud campus locations. After being introduced to our new product enablement tools, enterprise companies are taking the time to reimagine and reengineer their current use of software, hardware and connectivity as they get ready to embrace the hybrid cloud for their primary mission critical deployments. These companies are for the first time choosing a future legacy location outside of their own data centers for the strategic placement of their enterprise business intelligence engines that will be so important to every business over the next two decades," said Rob Roy, CEO, chairman and founder of Switch. "Due to this new holistic approach to hybrid cloud solutions, the closing cycles on these projects have extended the sales timelines. Our sales pipeline is the largest it has been in our company's history and we are extremely confident that we are on the right path to utilizing our industry's only Tier 5 platinum data center ecosystems to deliver long term customer and shareholder value."

GUIDANCE:

Switch, Inc. sees FY2018 revenue of $405-408 million, versus the consensus of $428.3 million.

For earnings history and earnings-related data on Switch, Inc. (SWCH) click here.

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