Zayo Group: Fiscal 1Q Earnings Snapshot
BOULDER, Colo. (AP) _ Zayo Group Holdings Inc. (ZAYO) on Wednesday reported fiscal first-quarter profit of $22.1 million.
The Boulder, Colorado-based company said it had net income of 9 cents per share.
The results missed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 12 cents per share.
The fiber optic bandwidth infrastructure company posted revenue of $641.1 million in the period, which also did not meet Street forecasts. Eight analysts surveyed by Zacks expected $648.8 million.
Zayo Group shares have decreased 17 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $30.38, a drop of 12 percent in the last 12 months.