Tucows (TCX) Reports In-Line Q1 EPS, Revenues Beat

Tucows (NASDAQ: TCX) reported Q1 EPS of $0.27, in-line with the analyst estimate of $0.27. Revenue for the quarter came in at $83.99 million versus the consensus estimate of $79 million.

“The first quarter was a very solid start to 2020, highlighted by year-over-year growth in revenue and gross profit of 6% and 11%, respectively, and cash flow from operations of more than $14 million,” said Elliot Noss, President and Chief Executive Officer, Tucows Inc. “Our Domains business continued to benefit from our focus on high-quality reseller customers, which contributed to more than a 20% year-over-year increase in gross margin in the Wholesale channel. In our Ting Mobile business, as expected we benefited from the improved economics of our carrier relationships. And at Ting Internet, we continued to steadily expand the network, adding another new town, further expanding potential serviceable addresses, increasing the number of homes passed, adding new customers, and nearly doubling gross profit year-over-year with the contribution of the acquisition of Cedar Holdings, which we closed on January 1.”

For earnings history and earnings-related data on Tucows (TCX) click here.

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