GTT Reports Third Quarter 2019 Financial Results
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GTT Communications (GTT) Misses Q3 EPS by 25c, Revenues Miss
November 12, 2019 7:02 AM ESTGTT Communications (NYSE: GTT) reported Q3 EPS of ($0.46), $0.25 worse than the analyst estimate of ($0.21). Revenue for the quarter came in at $420 million versus the consensus estimate of $425.7 million.
Third quarter highlights:
Revenue of $420.0 million declined 6.4% compared to 3Q18, and declined 3.2% compared to 2Q19. The sequential revenue decline of 3.2% was attributable to a 0.9% decline in monthly recurring cash revenue, a 0.8% decline from foreign currency, a 0.7% decline in non-recurring and other revenue, a 0.6% decline in the runoff of non-cash deferred revenue, and a 0.2% increase in revenue credits.Net install... More