GTT reports Q2 2018 financial results

GTT Communications, Inc. (NYSE: GTT), the global cloud networking provider to multinational clients, has announced its financial results for the quarter ended June 30, 2018, the company said.

Revenue of USD 326.8 million grew 71.9% over 2Q17 and grew 25.4% over 1Q18.
Net loss was USD 136.3 million, compared to net income of USD 0.7 million in 2Q17 and net loss of USD 30.7 million in 1Q18.

2Q18 net loss was primarily the result of several non-recurring costs related to the Interoute acquisition, including USD 13.7 million in exit, transaction and integration costs, USD 13.8 million loss on extinguishment of debt and USD 88.6 million of expense related to a foreign currency hedge which was entered into at the time the Interoute acquisition was announced and subsequently settled at closing.

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.