GTT Communications, Inc. (NYSE:GTT), the global cloud networking provider to multinational clients, has announced its financial results for the quarter ended March 31, 2018, the company said.
Revenue of USD 260.7 million grew 40.2% over 1Q17 and grew 4.6% over 4Q17.
Net loss was USD 30.7 million, compared to net loss of USD 13.1 million in 1Q17 and net loss of USD 49.5 million in 4Q17.
1Q18 net loss was primarily the result of several non-recurring costs, including USD 7.8 million in exit, transaction and integration costs related to the Custom Connect, Accelerated Connections and Interoute acquisitions, and USD 17.2 million expense related to a foreign currency hedge entered into in anticipation of the Interoute acquisition. 4Q17 net loss included several significant nonrecurring costs, primarily related to taxes.
GTT is redefining global communications to serve a cloud-based future, connecting people across organizations, around the world and to every application in the cloud. For more information on GTT, visit www.gtt.net.