Quarterly earnings results are a good time to check in on a company’s progress, especially compared to its peers in the same sector. Today we are looking at Cogent (NASDAQ: CCOI) and the best and worst performers in the telecommunication services industry.
The sector is a tale of two cities. Satellite telecommunication is generally buoyed by rising global demand for connectivity in costly-to-connect and remote areas. On the other hand, terrestrial telecommunication companies face an uphill battle, as they mostly sell into a deflationary market, where the price of moving a bit tends to decrease over time with better technology. Despite the differences in demand drivers, companies across the entire industry must contend competition from larger telecom conglomerates and hyperscalers expanding their own networks as well as newer entrants such as SpaceX's StarLink.
The 5 telecommunication services stocks we track reported a strong Q2. As a group, revenues were in line with analysts’ consensus estimates.
While some telecommunication services stocks have fared somewhat better than others, they have collectively declined. On average, share prices are down 3.8% since the latest earnings results.
Cogent (NASDAQ: CCOI)
Operating a massive network spanning 20,000 miles of fiber optic cable and connecting to over 3,200 buildings worldwide, Cogent Communications (NASDAQ: CCOI) provides high-speed Internet access, private network services, and data center colocation to businesses and bandwidth-intensive organizations across 54 countries.
Cogent reported revenues of $235.6 million, down 4.3% year on year. This print fell short of analysts’ expectations by 1.7%, but it was still a strong quarter for the company with a beat of analysts’ EPS estimates.
Investor expectations, however, were likely higher than Wall Street’s published projections, leaving some wishing for even better results (analysts’ consensus estimates are those published by big banks and advisory firms, not the investors who make buy and sell decisions). The stock is down 15.2% since reporting and currently trades at $10.91.
Is now the time to buy Cogent? Access our full analysis of the earnings results here, it’s free.
Best Q2: Array (NYSE: AD)
Operating as a majority-owned subsidiary of Telephone and Data Systems since its founding in 1983, Array (NYSE: AD) is a regional wireless telecommunications provider serving 4.6 million customers across 21 states with mobile phone, internet, and IoT services.
Array reported revenues of $54.07 million, up 89.5% year on year, outperforming analysts’ expectations by 3.3%. The business had a stunning quarter with a beat of analysts’ EPS estimates.
Array delivered the biggest analyst estimate beat and fastest revenue growth of the whole group. Although it had a fine quarter compared to its peers, the market seems unhappy with the results as the stock is down 2.1% since reporting. It currently trades at $34.89.
Is now the time to buy Array? Access our full analysis of the earnings results here, it’s free.
Weakest Q2: Iridium (NASDAQ: IRDM)
With a constellation of 66 low-earth orbit satellites providing coverage to every inch of the planet, Iridium Communications (NASDAQ: IRDM) operates a global satellite network that provides voice and data services to customers in remote areas where traditional telecommunications are unavailable.
Iridium reported revenues of $225.2 million, up 3.8% year on year, exceeding analysts’ expectations by 1.5%. Still, it was a softer quarter as it posted a significant miss of analysts’ EPS estimates.
Interestingly, the stock is up 4.4% since the results and currently trades at $49.32.
Read our full analysis of Iridium’s results here.
Lumen (NYSE: LUMN)
With approximately 350,000 route miles of fiber optic cable spanning North America and the Asia Pacific, Lumen Technologies (NYSE: LUMN) operates a vast fiber optic network that provides communications, cloud connectivity, security, and IT solutions to businesses and consumers.
Lumen reported revenues of $2.81 billion, down 9.3% year on year. This result beat analysts’ expectations by 2.4%. It was an exceptional quarter as it also put up a beat of analysts’ EPS estimates.
Lumen had the slowest revenue growth in the group. The stock is down 4.8% since reporting and currently trades at $6.39.
Read our full, actionable report on Lumen here, it’s free.
Viasat (NASDAQ: VSAT)
Operating a fleet of 23 satellites that orbit the Earth and beam connectivity from space, Viasat (NASDAQ: VSAT) provides satellite-based communications networks and services for airlines, maritime vessels, governments, businesses, and residential customers worldwide.
Viasat reported revenues of $1.16 billion, down 1.2% year on year. This number missed analysts’ expectations by 4.4%. Aside from that, it was a satisfactory quarter as it put up a beat of analysts’ EPS estimates.
Viasat had the weakest performance against analyst estimates of the whole group. The stock is down 1.3% since reporting and currently trades at $85.05.
Read our full, actionable report on Viasat here, it’s free.
Market Update
Over the past year, investors have been forced to repeatedly answer the same question: what is the market’s biggest risk? The answer has changed several times, and each shift has reshaped market leadership.
Late in 2025 and early 2026, artificial intelligence became the market’s primary uncertainty. Investors questioned whether AI would erode software pricing power and weaken competitive moats as AI made it easier to replicate once-differentiated products.
By the spring, technology took a back seat to geopolitics. The U.S. conflict with Iran briefly became the market’s dominant narrative, raising concerns about oil prices, inflation, and global growth. But as energy markets remained orderly and fears of a prolonged supply disruption faded, investors quickly turned their focus back to fundamentals.
Want to invest in winners with rock-solid fundamentals? Check out our Top 6 Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate.
