GTT Reports Second Quarter 2019 Financial Results
GTT Communications, Inc (GTT)
NASDAQ:AMEX Investor Relations:
gtt.net/investor-relations
Company Research
Source: Business Wire
Q2 Revenue Grew 33% Year-Over-Year to $434 MillionQ2 Net Loss of $33 MillionQ2 Adjusted EBITDA Grew 50% Year-Over-Year to $112 MillionAnnounces Free Cash Flow Target of $175–$200 Million for 2020Hires Advisor to Explore Sale of Certain Non-Strategic AssetsAdopts Plan Designed to Protect NOLs MCLEAN, Va.--(BUSINESS WIRE)--GTT Communications, Inc. (NYSE: GTT), a leading global cloud networking provider to multinational clients, announced today its financial results for the quarter ended June 30, 2019.Second quarter highlights:Revenue of $433.8 million grew 32.7% compared to 2Q18 and declined 3.6% compared to 1Q19.Net loss was $33.3 million compared to net loss of $136.3 million in 2Q18 and net loss of $27.3 million in 1Q19. The net losses in all periods are primarily the result of non-recurring costs, including exit, transaction and integration costs of $12.1 million, $13.7 million, and $12.0 million in 2Q19, 2Q18, and 1Q19, respectively, and change in fair value of exchange rate and
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