Alaska Communications Systems (ALSK) Tops Q2 EPS by 4c

Alaska Communications Systems (NASDAQ: ALSK) reported Q2 EPS of $0.04, $0.04 better than the analyst estimate of $0.00. Revenue for the quarter came in at $59.5 million versus the consensus estimate of $58.69 million.

“During the second quarter 2020, our superior network and established partnerships delivered strong performance despite the pandemic, led by Business and Wholesale broadband growth of 12.1%, nearly all of which is fiber based revenue. We continue to strategically augment our existing fiber-based network, which includes the North Slope, a complete ring around the state of Alaska, the Pacific Northwest and two under-sea cables to the Lower 48.”

“In addition, we are strengthening our fiber infrastructure with several strategic initiatives to drive long-term growth. With interest from anchor customers, we will be the first Alaska provider of locally hosted Microsoft Azure Stack Hub cloud services, enriching users’ computing experience with greater flexibility, increased reliability and lower latency. Leveraging our marine assets, we won our first subsea 100Gb IRU to a carrier customer in April. In addition, we are enhancing our consumer platform, and with our fixed-wireless CAF II program, we now offer high-speed broadband access to over 16,000 rural Alaskans,” said Bill Bishop, president & CEO.

GUIDANCE:

Alaska Communications Systems sees Q3 2020 revenue of $232-237 million.

For earnings history and earnings-related data on Alaska Communications Systems (ALSK) click here.

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