Zayo +2.6% on doubled profits in Q2 report

|About: Zayo Group (ZAYO)|By:, SA News Editor

Zayo Group (NYSE:ZAYO) is up 2.6% postmarket after boosting profits $8.1M sequentially, and more than doubling them Y/Y, in its Q2 report.

Net income hit $30.2M despite revenues that dipped 2%, on substantially lower depreciation and amortization. Operating income rose to $144.7M from $103.2M.

EBITDA came to $321.2M.

Revenue breakout: Communications Infrastructure, $542.4M; Allstream, $96.7M.

Profit breakout: Communications Infrastructure, $36.1M; Allstream, -$5.9M.

Adjusted unlevered free cash flow was $132.3M; at year-end, the company had $176.4M in cash and $231.8M available in revolving credit.

Previously: Zayo EPS in-line, misses on revenue (Feb. 07 2019)

Press release

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