Switch misses by $0.03, misses on revs; guides FY18 revs in-line; announces dividend
- Reports Q1 (Mar) earnings of $0.02 per share, $0.03 worse than the Capital IQ Consensus of $0.05; revenues rose 9.5% year/year to $97.7 mln vs the $99.79 mln Capital IQ Consensus.
- Co issues in-line guidancefor FY18, sees FY18 revs of $423-$440 mln vs. $431.32 mln Capital IQ Consensus Estimate.
- Switch today announced that Switch's Board of Directors has declared a cash dividend of $0.0147 per share of Switch's Class A common stock for the second quarter of 2018. The dividend will be payable on June 8, 2018 to all stockholders of record as of the close of business on May 29, 2018. Prior to the payment of this dividend, Switch, Ltd. will make a cash distribution to all holders of record of common units of Switch, Ltd., including Switch, of $0.0147 per common unit.