Crown Castle Q3 AFFO Rises

(RTTNews) - Crown Castle Inc. (CCI) on Wednesday said its third-quarter adjusted funds from operations increased to $801 million or $1.84 per share from $767 million or $1.77 per share last year.

For the quarter, FFO stood at $737 million or $1.69 a share versus the previous year's $698 million or $1.61 a share.

Earnings declined to $303 million or $0.70 per share from $265 million or $0.61 per share in the year-ago quarter.

Analysts, on average, polled by Thomson Reuters expected earnings of $0.67 per share for the period.

Site rental revenue increased 1% to $1.59 billion from $1.58 billion in the prior year.

Looking ahead to the full year, the company expects AFFO per share between $6.91 and $7.02 and net income per share of $2.24 to $2.45. Analysts currently estimate earnings of $2.70 per share and revenues of $6.54 billion.