Cogent Communications stock fell more than 30% on May 4, 2026, after the company reported first quarter results showing companywide service revenue declined sequentially from the last quarter. In February 2026, Cogent told investors that it had “returned to sequential revenue growth” and that quarterly reported revenues were “going to grow,” even while acknowledging continuing declines in the acquired Sprint revenue base. Block & Leviton is investigating the company's disclosures.
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