Shenandoah Telecommunications Company (SHEN) stock plunged 5.25% in the pre-market session on Thursday following its fourth-quarter earnings release. The fiber optic cable and telecommunications services provider reported a wider-than-expected loss for the quarter, overshadowing its revenue growth.
According to the earnings report, Shenandoah reported a net loss of $6.2 million, or $0.11 per share, for the fourth quarter of 2024, compared to a net income of $1.9 million, or $0.05 per share, in the same period a year ago. The company cited higher depreciation and amortization expenses related to its Glo Fiber network expansion and the acquisition of Horizon as the primary reasons for the net loss.
However, Shenandoah's revenue for the quarter increased 25.8% year-over-year to $85.4 million, driven by growth in its Glo Fiber Expansion Markets Residential & SMB segment, which saw revenue rise 52.7% to $16.6 million. The company also reported strong growth in its Commercial Fiber and RLEC & Other segments.
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