GTT reports Q3 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 September 30, 2018, the company said.

Revenue of USD 448.6 million grew 121.4% over 3Q17, and grew 37.3% over 2Q18. Net loss was USD 23.4 million, compared to net loss of USD 9.5 million in 3Q17, and net loss of USD 136.3 million in 2Q18.

3Q18 net loss was primarily the result of several non-recurring costs related to the Interoute acquisition, including USD 26.2 million in exit, transaction and integration costs. 2Q18 net loss was also primarily due to several non-recurring costs related to Interoute, 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 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.