Entering text into the input field will update the search result below

Switch -9.6% as revenues miss despite near double-digit gain

May 14, 2018 4:41 PM ETDigitalBridge Group, Inc. (DBRG) StockBy: Jason Aycock, SA News Editor
  • Switch (NYSE:SWCH) has slipped 9.6% in postmarket action after posting a miss in Q1 earnings.
  • The company's continuing to "execute on its market expansion strategy," says Founder/Chairman/CEO Rob Roy.
  • Revenues grew nearly double digits but missed, and operating income fell 61% to $9.4M -- much of that decline impacted by $12.4M in equity-based compensation expense vs. a year-ago $2.3M.
  • Net income, meanwhile, fell to $4M from $20.3M.
  • EBITDA of $46.9M was down fractionally and missed an expected $49.5M.
  • Churn came to 0.1% (flat).
  • Liquidity was $739M (including its revolving line of credit) and total debt outstanding net of cash/equivalents was $374M.
  • For 2018, it's reiterating guidance for revenues of $423M-$440M (vs. consensus for $431.3M); EBITDA of $216M-$224M (vs. expectations for $217.7M) and capex of $260M-$310M.
  • Conference call to come at 5 p.m. ET.
  • Press release

Recommended For You

More Trending News

About DBRG Stock

SymbolLast Price% Chg
FFO (FWD)
PE
Div Rate (TTM)
Yield (TTM)
Market Cap
Volume
Compare to Peers

Related Stocks

SymbolLast Price% Chg
DBRG--
DigitalBridge Group, Inc.