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Benzinga
Benzinga
Business
Anusuya Lahiri

Cyxtera's Q4 Top-Line Beats Aided By Recurring, Core Revenue Growth

  • Cyxtera Technologies Inc (NASDAQ:CYXT) reported fourth-quarter FY21 revenue growth of 3.3% year-on-year to $178.4 million, beating the consensus of $177.6 million.
  • Recurring revenue increased by 3.9% Y/Y to $170.3 million. Core revenue increased by 7.7% Y/Y to $162.5 million. 
  • Transaction Adjusted EBITDA increased by 1.7% Y/Y to $48.0 million.
  • Cyxtera held $52.4 million in cash and equivalents.
  • EPS loss of $(0.40) missed the consensus loss of $(0.26).
  • Outlook: Cyxtera sees FY22 revenue of $730 million - $760 million, above the consensus of $729.6 million.
  • Price Action: CYXT shares closed higher by 0.35% at $11.45 on Monday.
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