CyrusOne reports Q2 2018 earnings

CyrusOne Inc. (NASDAQ: CONE), a premier global data center REIT, has announced second quarter 2018 earnings, the company said.

Revenue was USD 196.9 million for the second quarter, compared to USD 166.9 million for the same period in 2017, an increase of 18%. The increase in revenue was driven primarily by a 28% increase in occupied CSF and additional interconnection services.

Net income was USD 105.9 million for the second quarter, compared to net loss of USD 0.8 million in the same period in 2017. Net income for the second quarter included a USD 102.7 million unrealized gain on the company´s equity investment in GDS Holdings Limited (“GDS”), a data center provider in China, due to an increase in GDS´s share price during the quarter. Net income per diluted common share1 was USD 1.06 in the second quarter of 2018, compared to net loss of USD (0.01) per diluted common share in the same period in 2017.

On May 2, 2018, the company announced a dividend of USD 0.46 per share of common stock for the second quarter of 2018. The dividend was paid on July 13, 2018, to stockholders of record at the close of business on June 29, 2018.

Additionally, today the company is announcing a dividend of USD 0.46 per share of common stock for the third quarter of 2018. The dividend will be paid on October 12, 2018, to stockholders of record at the close of business on September 28, 2018.

CyrusOne is a high-growth real estate investment trust (REIT) specializing in highly reliable enterprise-class, carrier-neutral data center properties. The company provides mission-critical data center facilities that protect and ensure the continued operation of IT infrastructure for approximately 1,000 customers, including 201 Fortune 1000 companies.