Switch: Q2 Earnings Insights

Shares of Switch SWCH moved lower by 2.54% in after-market trading after the company reported Q2 results.

Quarterly Results

Earnings per share were up 50.00% over the past year to $0.06, which were in line with the estimate of $0.06.

Revenue of $126,917,000 up by 13.74% from the same period last year, which missed the estimate of $127,180,000.

Outlook

Switch is re-affirming its full year 2020 guidance, as follows:

• Revenue in the range of $507 million to $521 million.
• Adjusted EBITDA in the range of $251 million to $261 million.
• Capital expenditures, excluding land acquisitions, in the range of $290 million to $340 million.

Conference Call Details

Date: Aug 06, 2020

Time: 05:00 PM

ET Webcast URL: https://investors.switch.com/events/default.aspx

Recent Stock Performance

Company's 52-week high was at $19.56

Company's 52-week low was at $10.30

Price action over last quarter: Up 2.04%

Company Description

Switch Inc is a US-based technology infrastructure company. It is engaged in designing, constructing and operating hyperscale data centers. The company has developed patented technologies that have redefined data center space and cooling, allowing customers to deploy high density and scalable IT architectures to support demanding and critical workloads. Switch owns and operates primary campus locations, called Primes such as Vegas, Nevada; The Citadel Campus near Reno, Nevada; and The Pyramid Campus in Grand Rapids, Michigan. It generates revenue through colocation, which includes the licensing and leasing of cabinet space and power and connectivity services, which includes cross-connects, broadband services, and external connectivity.