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March 1, 2021, 4:30 p.m. EST

Switch stock falls 7% after company's Q4 earnings

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By Adriano Marchese

Switch Inc. on Monday reported a rise in fourth-quarter profit and said it expects revenue to rise in 2021.

The technology infrastructure ecosystem company said earnings per share were 5 cents in the period, up from 4 cents in the comparable quarter a year ago.

Net income attributable to Switch was $6.5 million, compared with $4.0 million a year ago.

In the quarter, adjusted earnings before interest, taxes, depreciation and amortization--a metric which excludes exceptional costs--was $70.6 million, compared with $57.6 million.

Sales rose to $127.7 million from $120.5 million.

The board has declared a dividend of 5 cents a share, payable on March 26.

Looking ahead to the full year, the company expects revenue between $540 million and $550 million. In 2020, the company reported revenue of $511.5 million.

Adjusted Ebitda is expected to be between $278 million and $290 million, while capital expenditures--excluding land acquisitions--are expected to be between $330 million and $370 million.

Write to Adriano Marchese at adriano.marchese@wsj.com

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