CoreSite Realty Corporation (NYSE:COR) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.
CoreSite Realty Corporation Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 23.53% to $0.42 in the quarter versus EPS of $0.34 in the year-earlier quarter.
Revenue: Rose 20.14% to $55.3 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: CoreSite Realty Corporation reported adjusted EPS income of $0.42 per share. By that measure, the company beat the mean analyst estimate of $0.4. It beat the average revenue estimate of $54.17 million.
Quoting Management: “We were also pleased to execute upon our first preferred stock offering and recast our line of credit, creating the liquidity to fund our near-term growth objectives,” Mr. Ray continued. “Related, to date in 2013, we acquired a land site to support the development of our NY2 data center in the New York region. We continue to be encouraged by CoreSite’s growth opportunities and our vertical sales and marketing model is gaining momentum. Further, we believe that our platform is increasingly well-positioned to serve performance-sensitive applications and enable our customers to scale their businesses and increase profitability.”
Key Stats (on next page)…